... available to the ordinary creditors, can be increased. The order of payment of the company's creditors is as follows: The liquidator will meet the expenses of the liquidation and his/her own fees before paying the preferential creditors, such as the Inland Revenue and Customs & Excise. Next in order for payment are holders of floating charges. If there is any money left after paying the above creditors in full, it will be distributed amongst the company's ordinary creditors, that is the trade creditors. If there is insufficient money to pay all the trade creditors, they will each receive a dividend of so many pence in the pound. The money available will be distributed equally amongst the ordinary creditors, there being no order of payment within this category. Any creditors holding a fixed charge will realise their security outside the above process. The ordinary creditors are near the bottom of the list for repayment in a ...

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