Preferential Creditor

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Teacher
99 Points Posted on 10 October 2020
is whole amount due paid to Preferential creditor or they are paid proportionately
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On 10 October 2020 at 22:40 Report
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This discussion clarifies the payment hierarchy during company liquidation. It questions whether preferential creditors, such as employees owed money, receive their full due or if payments are distributed proportionally. The order typically starts with secured creditors, followed by unsecured creditors, employees, and finally shareholders if funds remain.

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Tax consultant
5895 Points Posted on 10 October 2020
When a company goes for liquidation
then the first is the secured creditor amount paid fully
then comes the unsecured creditors
then the employees who owed money
then comes the shareholders money if money is left there by
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On 10 October 2020 at 22:56
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Teacher
99 Points Posted on 11 October 2020
Who among the above are preferential creditors
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On 11 October 2020 at 06:47
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Tax consultant
5895 Points Posted on 11 October 2020
1st one comes under it with the company employees
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On 11 October 2020 at 08:56

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