{
  "url": "https://openlegislation.uk/insolvency-rules-1986/rule-4.181",
  "json_url": "https://openlegislation.uk/insolvency-rules-1986/rule-4.181.json",
  "legislation": "uksi/1986/1925",
  "legislation_title": "The Insolvency Rules 1986",
  "legislation_url": "https://openlegislation.uk/insolvency-rules-1986",
  "path": "rule/4.181",
  "kind": "rule",
  "number": "4.181",
  "heading": "Debts of insolvent company to rank equally",
  "text": "(1) (NO CVL APPLICATION)\nDebts other than preferential debts rank equally between themselves in the winding up and, after the preferential debts, shall be paid in full unless the assets are insufficient for meeting them, in which case they abate in equal proportions between themselves.\n(2) Paragraph (1) applies whether or not the company is unable to pay its debts.",
  "extent": "E+W",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Rule 4.181 renumbered as rule 4.181(1) (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 77"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Rule 4.181(2) added (11.1.1988 with application in accordance with rule 3(1)(2)) by The Insolvency (Amendment) Rules 1987 (S.I. 1987/1919), rule 1, Sch. para. 77"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Rule 4.181(1) modified (6.3.2008) by The Regulated Covered Bonds Regulations 2008 (S.I. 2008/346), reg. 1(1), Sch. para. 7(1)"
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Rule 4.181 in force at 29.12.1986, see rule 0.1"
    }
  ],
  "outstanding_effects": [
    {
      "type": "substituted for rule 4.54(5)",
      "affecting": "uksi/2010/686",
      "affecting_title": "The Insolvency (Amendment) Rules 2010"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1986/1925/rule/4.181",
    "retrieved_at": "2026-10-29T16:38:55.219722+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."
}