Chapter 14 (Sequence of distribution of assets in a liquidation)

Hi I've just checked the notes, particularly pages 113 and 114 There's not a lot to understand on page 113 - I believe that it's pretty much clear with the possible exception of 'the prescribed part' and the mathematics of the calculation of the prescribed part So here goes! Where assets are lower than £10,000 (say £6,000) the calculation of the pp is simply £6,000 * 50% = £3,000 Where assets are above £10,000 but less than £600,000 (say £430,000) the calculation is (£10,000 * 50%) + (£420,000 * 20%) = £5,000 + £84,000 = £89,000 Where assets exceed £600,000 (say £750,000) the calculation is (£10,000 * 50%) + (£590,000 * 20%) = £5,000 + £118,000 = £123,000 Has that cleared up any confusion that you may have had? If not, post again OK?