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SuperOneSdnBhdobtainedaloanofRM1millionfromBestBankBhdinJanuary2019.Thisloanwassecuredbyafixedchargeonthecompany'sofficepremises.However,duetoanoversight,thechargewasnotregisteredasrequiredundertheCompaniesAct2016.InMarch,thecompanyborrowedRM100,000fromMax,anunsecuredcreditor.ThecompanythenborrowedRM500,000fromTenTenBankBhdinAugust2019,andgavetothebank,assecurityfortheloan,adebenturesecuredbyafloatingchargeoveritsinventory,andthischargewasimmediatelyregistered.SuperOneSdnBhdsubsequentlysufferedfinancialproblems.InSeptember2019,acreditorpresentedapetitionforthewindingupofthecompany.ThewindinguporderwasgrantedbythecourtinJanuary2020. Advisetheliquidatorofthecompany: i) Onthepriorityrightsofthecreditors.

SuperOneSdnBhdobtainedaloanofRM1millionfromBestBankBhdinJanuary2019.Thisloanwassecuredbyafixedchargeonthecompany'sofficepremises.However,duetoanoversight,thechargewasnotregisteredasrequiredundertheCompaniesAct2016.InMarch,thecompanyborrowedRM100,000fromMax,anunsecuredcreditor.ThecompanythenborrowedRM500,000fromTenTenBankBhdinAugust2019,andgavetothebank,assecurityfortheloan,adebenturesecuredbyafloatingchargeoveritsinventory,andthischargewasimmediatelyregistered.SuperOneSdnBhdsubsequentlysufferedfinancialproblems.InSeptember2019,acreditorpresentedapetitionforthewindingupofthecompany.ThewindinguporderwasgrantedbythecourtinJanuary2020.

Advisetheliquidatorofthecompany:

i) Onthepriorityrightsofthecreditors.

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