1.   More controversially, the Crown for certain unpaid taxes and other levies is also accorded the status of preferential creditor.

2.   In the event of liquidation, loan stockholders rank beneath debenture-holders and preferential creditors.

3.   Preferential creditors, such as employees, are second in line, followed by holders of any debentures.

4.   Preferential creditors, such as employees are second in line, followed by holders of any debentures.

5.   EMPLOYEES and the government should lose their preferential creditor status in recovering money owed them when a company goes into liquidation, the Law Reform Commission has suggested.