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Sale of Business and Prescribed Part Dividend Payment to Creditors

Appointed as Liquidators of a Wiltshire hotel business in November 2008. We Successfully completed a sale of the business, together with further asset disposals, realised c160K. This enabled a payment to be made to the floating charge creditor as well as a prescribed part dividend to unsecured creditors.   

The prescribed part represents an element of recoveries set aside for the general body of creditors ahead of any fixed and floating charge creditor.

In this case a further unsecured dividend was able to be made from non charged assets.

We have worked with Byrne Associates for more than 20 years, providing RICS accredited valuations to a diverse range of businesses. Byrne's expertise has been evident on the numerous occasions we worked together Sam Ewing (Bristol Commercial Valuers and Auctioneers )

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