Lienal the liquidator is winding up a company that has a valuable building worh $15 million. XYZ Bank has a registered mortgage over the property and the debt owing is $10 million STY Bank has an unsecured debt of $12 million over the same property. Required: Advise XYZ Bank how much they should recieve from the sale of the property

Answer rating: 100% (QA)

The XYZ Bank should receive 10 million from the sale of the prop... View the full answer