Clause 24 - Inadequacy of available amount:

Part of Proceeds of Crime Bill – in a Public Bill Committee at 5:15 pm on 27 November 2001.

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Photo of Mark Field Mark Field Conservative, Cities of London and Westminster 5:15, 27 November 2001

I fully appreciate that, when bankruptcy proceedings have preceded a confiscation order, there should be preferred creditors—for example banks and mortgage companies—who would claim some of the assets. Is the Minister saying that non-secured creditors would hold themselves in a preferable position to the state in that regard?