Protect yourself from losing out to a debtor

09 Apr 09

bridgebr

It's a fact of life that once a company has been placed into formal insolvency, the majority of unsecured creditors can virtually write off any monies owed to them.

The Insolvency Practitioner realises the assets of a company and distributes them in accordance with the law, which – despite recent changes – still generally leaves unsecured creditors at the back of the queue.

But there are steps you can take to move yourself up the pecking order.