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- No payment to unsecured creditors? No problem!
No payment to unsecured creditors? No problem!
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/dc5b36d9-60f1-4d67-b65f-3062f8bec31d/bethany-legg-75nbwHfDsnY-unsplash.jpg?t=1721991027)
Tim Carter and Lucy Trott of Stevens & Bolton summarise a recent High Court ruling where HMRC was construed as an unsecured creditor instead of a preferential creditor such that administrators were able to convert from administration to CVL.