The biggest concern for employees, creditors and banks of an insolvent company is ‘Am I going to get paid and how much?’
The order of payment is as follows:
The function of the liquidator is to identify the assets of the company, take those assets under control, liquidate those assets, identify the creditors and distribute those assets in order to satisfy all or part of the claims of such creditors in accordance with the law relating to priority of payments.
Declan Moore is Audit Manager in OSK. Contact OSK Accountants Dublin for more information.
A video message from Tadgh O'Sullivan, Director.
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