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Nuances of receivership procedures

Slideshowbob · 2011-07-21 17:39:52

http://www.rte.ie/news/2011/0721/superquinn-business.html Dare I say the report above seems to suggest some sharp practice may have taken place in recent times regarding the SQ receivership/sale. Can anyone clarify how different receivership / sale routes affect obligations to suppliers who are owed money??

21-07-2011 5:39pm

#1

Slideshowbob

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http://www.rte.ie/news/2011/0721/superquinn-business.html

Dare I say the report above seems to suggest some sharp practice may have taken place in recent times regarding the SQ receivership/sale.

Can anyone clarify how different receivership / sale routes affect obligations to suppliers who are owed money??

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#2 21-07-2011 5:45pm

SBWife

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Suppliers are normally unsecured creditors and as such will be at the back of the queue for payment in the receivership process. In most cases unsecured creditors will get at most a small percentage of the amount that they are owed. The banks are secured creditors with their borrowings secured against the assets of the business.

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