Insolvency, Preference Claim

The one where the director’s loan was paid first

Service Type

Insolvency
Preference Claim

Client Type

company

Sector

manufacturing and engineering

Advice provided to an Insolvency Practitioner of a company that sought recovery of money from its former director.  It was alleged that director had repaid his director’s loan in preference of outstanding creditors before it faced a Winding Up Petition.  

The threat of recovery of the repayment led to an early resolution of the claim with recovery made for the benefit of the creditors.

Tenet Compliance & Litigation Limited. Registered Office, 10th Floor, Lyndon House, 62 Hagley Road, Birmingham, B16 8PE. Registered in England and Wales. Registered No: 09776405. Authorised and regulated by the Solicitors Regulation Authority. SRA Identification No. 626562.
Copyright © Tenet Law. All Rights Reserved.
Created by Gritt & Co