Milton Retail Ltd is in liquidation. Advise the liquidator,
Ted, how much each creditor should be paid, assuming that the total amount
available for distribution is $252 000.
(a) The CEO is owed $12 000 in director’s fees.
(b) The employees are owed $100 000 in total.
(c) The company’s solicitors are owed $50 000 for legal fees.
(d) The company’s other unsecured creditors are owed $40 000
(e) Ted’s expenses to date amount to $20 000 and his
remuneration to $80 000.