When will I get paid?

When will I get paid if the Company that owes me money is placed into External Administration?

One of the most common questions we are asked as External Administrators by creditors is when and how do I get paid the money I am owed? The short answer is it depends.

For the purposes of this article, we will be focusing on the position of unsecured creditors as opposed to secured and priority/employee creditors of companies in Voluntary Administration, Subject to a Deed of Company Arrangement and in Liquidation.

The major factor that determines the timing of a dividend is the type of appointment the company is subject to.

Is the business trading on subject to a Voluntary Administrator/s ("VA") appointment?