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Sequence of distribution of assets in a Liquidation

This topic has 1 reply, 2 voices, and was last updated 7 years ago by MikeLittle.

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October 3, 2017 at 4:24 pm #409347
saanikah
Member
- Topics: 12
- Replies: 10
Dear Mr. Mike,
I am studying the Global variant of F4.
In respect to the sequence of distribution of assets in a liquidation, there is no mention of debenture holders.
From your previous explanations, I understand that they are paid off before preference share holders. But there is no mention of them in this list in Chapter 16: Liquidation.
Was there a reason for this omission?
October 3, 2017 at 4:47 pm #409349
MikeLittle
Keymaster
- Topics: 27
- Replies: 23203
On page 123, in #1= we have “lenders secured by way of fixed charge” and in #4 we have “amounts due to lenders secured by way of floating charge”
How else might we describe “lenders secured by way of …”?
OK?
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