Preferential Creditors

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March 28, 2017 at 3:59 pm #379461
kiranshahzadi
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In the liquidation of a business which of the following are treated as preferential creditors?
1. Employees and independent contractors.
2.Employees but not independent contractors.
3.Independent contractors but not employees.

Are both employees and independent contractors treated as preferential creditors?
March 28, 2017 at 4:57 pm #379464
MikeLittle
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No, in the above scenario, only the employees are treated as preferential

OK?
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