- Andrew Knox

Jun 19, 2024 | stephens-scown.co.uk | Andrew Knox |- Andrew Knox

Following a recent High Court judgment, Stephens Scown’s specialist Insolvency and Restructuring team have proved that it is possible to convert administration to a Creditors’ Voluntary Liquidation (CVL) when the only unsecured creditors are preferential ones. The case clarified the interpretation of the term unsecured creditor in the context of paragraph 83(1)(b) Sch B1 1986 and provides authority that the term includes preferential creditors who do not hold security.