Extract from committee proceedings (Lords) on the Corporate Insolvency and Governance Bill - June 16
Wednesday, 17 June 2020 08:33
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Lord Hendy (Lab) [V]:...As I mentioned earlier, it is right that
workers should have priority because, unlike secured creditors,
they cannot diversify the risk of the company becoming insolvent,
and their stock of labour is ever-diminishing. There is another
reason that they should be given preference: they spend their
remuneration; they do not put it in hidden bank accounts in
the Cayman Islands. They spend it because they and their
families have to live on it. This creates...Request free trial
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