Further to Leaping Avengers comments Knights has the highest rate of settling liquidations by arrangement with their creditors than simply going bankrupt.
At least as a creditor at least you get something back. I can understand Leaping Avengers frustation though as creditor in any liquidated company cos you only receive a % of the amount owed. I know companies that have successfully pulled off Part 10 arrangements and avoided hundreds of thousands of dollars in tax obligations.Its a friggen scam!!!!
I wrote off over a quater of a million dollars a few years ago and elected to bankrupt the individual involved than accept 10 cents in the dollar. Some scum don't deserve second chances.
KIA
knights insolvency administration limited
