Barry Sheerman – 2014 Parliamentary Question to the Department for Business, Innovation and Skills

The below Parliamentary question was asked by Barry Sheerman on 2015-01-13.

To ask the Secretary of State for Business, Innovation and Skills, what recent representations he has received from creditors of companies which have gone into liquidation about the priority of payments in cases of liquidation.

Jo Swinson

I occasionally receive representations from creditors of companies in liquidation about priority of payments in those cases. In broad terms, the principle applied in insolvency cases is that creditors are treated equally, and will receive any payment they are due after the fees, costs and expenses of the liquidation have been paid. This is not an area which the Government has any current plans to change.