CheshireCrusty
Member
- Joined
- 6 Feb 2014
- Messages
- 88
HMRC haven't had preferential creditor status for some years and have to take distribution alongside normal unsecured creditors.
Yes - you are correct, sorry. (You will note I have adopted the epithet "Crusty")
In Carillion's case I note they said in the 31st December 2016 Accounts that bank loans and overdrafts were largely unsecured and due for renewal in November 2020, so unless they have had to increase the security in the past year it looks as if a relatively large proportion of the assets will be available to be shared amongst the unsecured creditors. However the unsecured creditors will now include the pension scheme PPF deficit along with the taxes due and the unsecured bank loans and overdrafts all ranking equally. The liquidation becomes even more complex and time consuming!