Rule 26 Amendment of Part 3 of the Insolvency Rules

After 3.51 insert—

“Priority of moratorium debts in subsequent administration

3.51A.

Where paragraph 64A(1) of Schedule B1 applies, the moratorium debts and priority pre-moratorium debts mentioned in paragraph 64A(2) of the Schedule 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 section 233B(3) or (4)^f1, the supplier would not have to had to make that supply;

(b)

wages or salary^f2 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.”.