7 ms·
In this case a large number of their creditors, indeed the ones that should have highest priority, are the people who are currently stranded because they’ve alr
by msbarnett 7y ago
In this case a large number of their creditors, indeed the ones that should have highest priority, are the people who are currently stranded because they’ve already paid the company for travel they are now not going to receive.
- chrisseaton 7y ago> In this case a large number of their creditors, indeed the ones that should have highest priority, are the people who are currently stranded because they’ve already paid the company for travel they are now not going to receive. I'm not sure that's the case - I think individual customers are amongst the lowest priority in a liquidation, as their credit is unsecured. The only people lower are shareholders, I believe. Almost by definition there will be nothing left for customers (as otherwise why would they be liquidising if they can pay all their other creditors?)
- msbarnett 7y ago“Should” was the operative word in that sentence. The fact that individual consumers would normally be at the back of the line is a disgrace, however true it may be. The sentiment was that in a just world they would be at the head of the line.