{
  "url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016/rule-14.12",
  "json_url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016/rule-14.12.json",
  "legislation": "uksi/2016/1024",
  "legislation_title": "The Insolvency (England and Wales) Rules 2016",
  "legislation_url": "https://openlegislation.uk/insolvency-england-and-wales-rules-2016",
  "path": "rule/14.12",
  "kind": "rule",
  "number": "14.12",
  "heading": null,
  "text": "(1) This rule applies in an administration and a winding up by the court.\n(2) Debts other than preferential debts rank equally between themselves and, after the preferential debts, must be paid in full unless the assets are insufficient for meeting them, in which case they abate in equal proportions between themselves.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "Rule 14.12 applied (with modifications) (23.4.2019) by S.I. 2008/346, Sch. 2 para. 7(1) (as amended by The Financial Services and Markets (Insolvency) (Amendment of Miscellaneous Enactments) Regulations 2019 (S.I. 2019/755), regs. 1, 7(2)(a))"
    },
    {
      "type": "C",
      "label": "C2",
      "text": "Rules 14.1-14.24 applied (with modifications) (19.3.2024) by The Water Industry (Special Administration) (England and Wales) Rules 2024 (S.I. 2024/229), rules 1, 5, 86-103, Sch. (with rule 2(2))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2016/1024/rule/14.12",
    "retrieved_at": "2026-10-28T23:19:01.539785+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}