All liabilities to Barclays Bank plc due from the corporation;

All liabilities to Wolverhampton Metropolitan Borough Council arising under section 37 of the Act;

All liabilities in respect of monies owed by the corporation to HM Customs and Excise, but excluding any liability in respect of monies owed to HM Customs and Excise by any company wholly or partly owned by the corporation;

All liabilities to any creditors, incurred in the proper conduct and management of the educational institution conducted by the corporation, the maintenance of its premises, and the supply of goods necessary for the corporation to deliver further education and associated services;

All liabilities in respect of claims arising out of section 26(2), (3) and (4) of the Act and the Transfer of Undertakings (Protection of Employment) Regulations5.