Recovering Bad Debt

izgard, a lot of people will be in line to get paid before your company if they go into liquidation. It normally goes something like:

• fees and expenses of the liquidator,
  
• court costs and taxes,
  
• employees wages,
  
• redundancy costs.
  Only after all of these are settled will the liquidator look to apportion the remaining cash to the creditors deemed most urgent or longest outstanding.