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Max Stationery Bhd is to be liquidated. Total unpaid debt is RM4m (RM2.5m secured debt & RM1.5m unsecured debt). Administrative costs of liquidation & wage

Max Stationery Bhd is to be liquidated. Total unpaid debt is RM4m (RM2.5m secured debt & RM1.5m unsecured debt). Administrative costs of liquidation & wage payments are expected to be RM1m. A sale of assets is expected to bring RM3m after taxes. Secured creditors have a mortgage lien for RM2m on the office which will be liquidated for RM1.5m out of the total asset sale proceeds. How much of cash the unsecured creditor can obtain from this liquidation?

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