questionText: To ask the Secretary of State for Business and Trade, whether she has made an assessment of the potential merits a statutory duty on insolvency practitioners to pay outstanding (a) wages and (b) notice pay as the first duty when a company ceases to trade as a result of insolvency.
answerText: Raising the priority of payment for employee claims would inevitably reduce the sums that may be paid to other unsecured creditors, including small businesses.Former employees of insolvent employers can claim redundancy payments and other contractual debt...
heading: Insolvency: Regulation