An MHK is describing a change to the debt recovery bill going through the House of Keys, as 'a sad day for the self-employed'.
The bill aimed to help people who had difficulty collecting money owed to them, despite rulings in their favour in the High Court.
But an important clause sharing payouts between the government and other creditors when a company folds, was removed by the Legislative Council, and the change was upheld in the Keys this week.
South Douglas MHK Bill Malarkey says that means money owed to the public purse, such as tax, VAT and National Insurance, will still be repaid first, often leaving nothing for other creditors.
Mr Malarkey has personal experience of the problem:
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