The Payment and Electronic Money Institution Insolvency (England and Wales) Rules 2021

Debts of institution to rank equally

This section has no associated Explanatory Memorandum

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