Rule 4.28 SecurityI1
England and Wales
(1)
The following applies where an insolvency practitioner is appointed to be provisional liquidator under section 135.
(2)
The cost of providing the security required under the Act shall be paid in the first instance by the provisional liquidator; but—
(a)
if a winding-up order is not made, the person so appointed is entitled to be reimbursed out of the property of the company, and the court may make an order on the company accordingly, and
(b)
if a winding-up order is made, he is entitled to be reimbursed out of the assets in the prescribed order of priority.