If you are owed money by a company that is in liquidation, it can be a difficult situation to deal with as there is often a lot of uncertainty as to whether you will be paid. The process of distributing assets in a liquidation follows a compulsory priority regime that must be adhered to. The liquidators are bound by that regime and there is no discretion to choose which creditors to pay first. In this video, Brent Norling explains how this priority regime works and why some creditors have priority over others. Brent also explains some ways that the creditors can follow to move up the priority list within a liquidation. If you need advice on how to deal with this situation, we offer a free 30-minute legal consultation where we can discuss the issues and the strategy to move forward. Book your consultation here: https://lnkd.in/grxHVWbM Norling Law is a specialist Litigation and Dispute Resolution law firm with a core focus on Insolvency and Restructuring. #NorlingLaw #InsolvencyandDebtRecovery #legal #lawyers #litigation #lawfirm #newzealand #nzbusiness #advice
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5moSadly employees are so far down the list they miss out on money they have earned in good faith. The system may be legal, but far from fair or humane