THE FIRST GROUP OF PARTS

PART 4COMPANIES WINDING UP

CHAPTER 14COLLECTION AND DISTRIBUTION OF COMPANY'S ASSETS BY LIQUIDATOR

Debts of insolvent company to rank equally4.181

(NO CVL APPLICATION)

Debts other than preferential debts rank equally between themselves in the winding up and, after the preferential debts, shall be paid in full unless the assets are insufficient for meeting them, in which case they abate in equal proportions between themselves.