Recovering Bad Debt

Tiswas, some colleagues in the office seem to think that if the company goes into administration, debtors with smaller claims are more likely to be the first to receive any money and the larger debtors simply have to tough it out. Any idea if this is true (or partially true)?

No, i don't think this is true. it's generally the one who shouts the loudest who gets paid first, as a basic rule.

Go in heavy, i have been told, is the only way. Hit them with a demand for full settlement immediately, lawyers, the works. threaten to wind their company up. Be sure that this is what plenty of other people will do to them very shortly, and if you sit back and let them get on with it, you'll be forgotten about as the smallest threat.