Bridgewood Debt Solutions

0800 987 1017

Freephone (including all mobiles)

Find your debt solution today!

Call 0800 987 1017 or Request a Call Back

Archive for November, 2016

Who gets paid first in a Company Liquidation?

Introduction

There are two ways an insolvent company can be liquidated – either voluntarily by the directors instructing an Insolvency Practitioner to convene the relevant meetings of shareholders and creditors; or compulsorily, by a creditor petitioning at court for the winding up of the company. In both cases it may well be that there are sufficient assets realised into the liquidation for payments to be made to some or all creditors. However there is a strict hierarchy in place which dictates the order within which creditors are paid and the aim of this briefing note is to provide an overview of the order of payments.

Read the rest of this entry »

367 Reviews
Service Rating: