Re: Debts

By VS Griff (VS Boro)19/1 08:18Fri Jan 19 08:18:53 2024In response to Debts

Views: 538

My understanding is that assets would be somehow divided between the creditors, where a "priority" system is used.
That would be 1) liquidators 2) Wages 3) HMRC and the line 4) secured loans 5) everyone else 6) unsecured loans.
As of June 22 Boro Leisure had about £10,000 of "Intangible Assets" and £59,000 of Stock Assets -----whatever that means.

A problem that I see is because there are no directors OR persons with significant control is there anyone who can liquidate the company?

I have been told that liquidation is taken more "seriously" than administration and more forensic accounting takes place.
Given the turmoil in ownership over the last 3 months and currently "no captain of the ship" this will probably raise some red-flages

**** This is my understanding and should NOT be taken as fact **** but it makes sense (well to me it does).

>>>> Former Nuneaton Boro fan <<<<