PART 5

WINDING UP BY THE COURT
CHAPTER 9

Distribution of company's assets by the liquidator

Winding up commencing as voluntary
5
In any winding up by the court which follows immediately on a voluntary winding up (whether members' voluntary or creditors' voluntary), such outlays and remuneration of the voluntary liquidator as the court may allow have the same priority as the outlays mentioned in rule 7.28(3)(a).

Saving for powers of the court (section 156)
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1
The priority laid down by rule 7.27 is 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 expenses to be paid by the company, or the liquidator; or
b
affects the rights of any person to whom such expenses are ordered to be paid.