50Priority payments

50 Priority payments

50 Priority payments

Subject to this Part, in the winding up of a liable entity on or after the finalisation day the following claims outstanding against the liable entity at that day must be paid in priority to all other claims—

(a) first, expenses (except deferred expenses) properly incurred by the SPF trustee in preserving, realising or getting in property of the liable entity, or in carrying on the liable entity’s business,

(b) next, the costs in respect of an application to the Supreme Court under section 51 or 52,

(c) next, operating expenses of the entity,

(d) next, payable liabilities other than those referred to in paragraph (c),

(e) next, claims for the payment of liabilities (other than payable liabilities).