PART 3Miscellaneous amendments of the principal Rules

Amendment of Part 4

29.  After Rule 4.228 (General Rule as to priority) insert—

Priority of moratorium debts in subsequent winding up

4.228ZA.  Where Article 148A applies the moratorium debts and priority pre-moratorium debts mentioned in paragraph (2)(b) of that Article are payable in the following order of priority—

(a)amounts payable in respect of goods or services supplied during the moratorium under a contract where, but for Article 197B(3) or (4), the supplier would not have had to make that supply;

(b)wages or salary arising under a contract of employment;

(c)other debts or other liabilities apart from the monitor’s remuneration or expenses; and

(d)the monitor’s remuneration or expenses..