PART 7WINDING UP BY THE COURT

CHAPTER 14Priority of payment of costs and expenses, etc.

Saving for powers of the court (section 156)7.110.

(1)

The priorities laid down by rules 7.108 and 7.109 are subject to the power of the court to make orders under section 156, where the assets are insufficient to satisfy the liabilities.

(2)

Nothing in those rules—

(a)

applies to or affects the power of any court, in proceedings by or against the company, to order costs to be paid by the company, or the liquidator; or

(b)

affects the rights of any person to whom such costs are ordered to be paid.