SCHEDULES

C1C2C3SCHEDULE 4Moratoriums in Great Britain: temporary provision

Annotations:
Modifications etc. (not altering text)

PART 4Temporary rules: Scotland

Priority of moratorium debts etc in subsequent winding up

82

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.