1. So they were not subject to claims of preferential creditors . 2. Preferential creditors , such as employees are second in line, followed by holders of any debentures.3. Preferential creditors , such as employees, are second in line, followed by holders of any debentures.4. So the preferential creditors had a prior claim. 5. The right of the Crown as a preferential creditor was removed by the Enterprise Act 2002. 6. The balance available, if any, after the non-preferential creditors are repaid is distributed amongst the company's shareholders. 7. The balance available, if any, after the preferential creditors are repaid is available to repay the non-preferential creditors. 8. However, the company liquidator argued that the accountants should only be paid after preferential creditors and debenture holders. 9. The balance available, if any, after the preferential creditors are repaid is available to repay the non-preferential creditors . 10. While the existing law listed 20 preferential creditors , he said the provision violated the spirit of everyone being treated equally.
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