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bigduckontax, Accountant
Category: UK Tax
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my company has been threatened by a winding up petition, by

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my company has been threatened by a winding up petition, by way the smallest creditor. he represents £2500 out of £150,000. Assets total £100k. If succesful and assets were sold how would these be distributed?
Submitted: 3 years ago.
Category: UK Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.

Pro rata [ie proportionately] amongst all the creditors. Remember certain preferential creditors, secured loans for example, will be paid out in full first.

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