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Government remains at head of creditors' queue

by isleofman.com 31st March 2011

An MHK says small businesses in the Isle of Man may lose out in the fight to get back money they are owed, when firms go bust.

The Debt Recovery and Enforcement Bill is well on the way to becoming law.

It's a private member's bill which would see a new tier of licensed debt collectors help those who win cases in the High Court recover the money owed to them.

But South Douglas member Bill Malarkey is dismayed that a clause giving small businesses a greater claim to any proceeds, was removed by Legislative Council.

Mr Malarkey says it means government remains at the front of the queue to have debts repaid:

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Posted by isleofman.com
Thursday 31st, March 2011 01:43pm.

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