- Mar 14, 2005
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As soon as title passes to the dealer, then effectively the caravanner who has started the part exchange process but has not received either the replacement caravan or any cash adjustment becomes a creditor to the business. As such they will take their position in the queue of all creditors, and may only possibly receive a small proportion or even zero of the agreed exchange value.
I am not entirely sure of the pecking order, but some some types of creditors do have precedence over others, and sadly it is usually the man in the street who is at the end of the queue.
I am not entirely sure of the pecking order, but some some types of creditors do have precedence over others, and sadly it is usually the man in the street who is at the end of the queue.
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