Priority of moratorium debts etc in subsequent winding up
This section has no associated Explanatory Notes
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.