Brent Norling

Um, you know, security, if you can get it, um, I know that's not always available.

Um, but you know, if you're supplying goods, um, take security on a, over a pending payment.

Does that mean that you can go and get it back if they don't pay it?

Yeah, it depends.

So like, um, let's say you've got supplies and it's sitting in a shop or on a site.

Um, yeah, you can go in and take that pending, you know, if you haven't got paid.

Um, it gets complicated though in certain circumstances, like, you know, let's say you supplied timber and that's been fixed into a building.

You've lost your security and you can just, you can only trace it to proceeds.

Um, so what about I've installed 20 heat pumps.

Yeah.

For instance.

Yeah.

If they've been installed, you've probably lost it.

That's right.

But your security can trace into proceeds.

It gets tricky.

But like, for example, you know, if your customer installed them and then they've invoiced the homeowner or whatever for that, got paid, and you can trace that into their bank account and it's sitting there at liquidation date, which is unlikely.

Yeah.

But otherwise it's liquidators first, then their expenses, like legal fees, auction fees.

Then it's staff to, I think it's about 27, 28 grand that staff get a priority for, and then it's IRD.