Assume 4 creditors are owed 1 million each and all debts are out 90 days. One creditor goes to the company and says if you give me 750000 we will call it quits. The company while still operating pays out 750000 to wipe the 1000000 debt or offers security. The company then goes into admin. That creditor wrongly thinks he’s home and hosed. The administrator simple says you received a preferential payments of 750000. Stick it back in the pot. I’ve been there..
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