Rule 29 Amendment of Part 4I1

After Rule 4.228 (General Rule as to priority) insert—

“Priority of moratorium debts in subsequent winding up

4.228ZA

Where Article 148A applies the moratorium debts and priority pre-moratorium debts mentioned in paragraph (2)(b) of that Article 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 Article 197B(3) or (4), 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; and

(d)

the monitor’s remuneration or expenses.”.