Depends on type of external administration. There are differences between a VA , receiver and a liquidator. In my experience a secured creditor eg bank will generally want there own receiver running the process to get paid ASAP. Really depends how complex and what else needs to be paid. A secured creditor will have priority but employee entitlements can rank above this. Liquidator also needs to confirm security held is valid etc. takes time which the insolvency profession has learnt to handsomely charge for.
Cheers
Baraka
AEJ Price at posting:
$8.51 Sentiment: None Disclosure: Held
