By definition, the problem with insolvencies is the shortage of money. On the other hand, there is never a shortage of people interested in having a share of the dwindling pot. The order of payment of the various creditors is well established by statute, with administrators’ and liquidators’ fees and expenses – including legal fees – comfortably placed near the top.

So far, so well known, but what has been happening in the last year or so to upset this happy arrangement?