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SCHEDULES

SCHEDULE 4Moratoriums in Great Britain: temporary provision

PART 3Temporary rules: England and Wales

Priority of moratorium debts etc in subsequent winding up

42(1)Where section 174A of the Insolvency Act 1986 applies, the moratorium debts and pre-moratorium debts mentioned in subsection (2)(b) of that section 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 section 233B(3) or (4) of that Act, 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;

(d)the monitor’s remuneration or expenses.

(2)In this paragraph “wages or salary” has the same meaning as in section A18 of the Insolvency Act 1986.