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Page 240

CHAPTER 21
CONTRIBUTORIES AND CREDITORS

2. The preferential creditors.
3. The unsecured creditors.
Secured creditors pay themselves out of their security, and as to any balance remaining unpaid they rank as unsecured creditors.
In the event of the assets being insufficient to satisfy the liabilities, the Court may make an order for payment of the costs, charges and expenses in such order of priority as it thinks just (s. 267). Unless the Court otherwise orders, priority is regulated by r. 192. The order is:
1. Fees and expenses properly incurred in preserving, realising or getting in the assets.
2. Costs of the petition, including costs of those appearing on the petition whose costs are allowed by the Court.
3. Remuneration of special manager (if any).
4. Costs and expenses of person who makes the company's statement of affairs. 5. Charges of a shorthand writer appointed to take an examination.
6. Disbursements of liquidator.
7. Costs of any person properly employed by the liquidator.
8. Remuneration of the liquidator.
9. Expenses of committee of inspection, if approved by Board of Trade.

Preferential Debts (s. 319).-The following debts rank equally among themselves and must be paid in full in priority to all other debts. If the assets are insufficient to meet them, they abate in equal proportions. The debts are:
1. Rates payable within twelve months of the winding-up order, taxes assessed up to April 5 before that date and not exceeding one year's assessment, and purchase tax due within twelve months before that date.

Apart from this provision as to taxes, Crown debts have no priority.(13)
2. Wages or salary of a clerk or servant in respect of services rendered within four months, before the relevant date,(14) not exceeding £200.
The secretary is usually a clerk or servant,(15) but a managing director (16) and a director are not; a director may, however, be employed

13 Food Controller v. Cork, [1923] A. C. 647.
14 Means, when the company is wound up compulsorily, the appointment of a provisional liquidator, or if no such appointment was made, the date of the winding
up order; in other cases, means the date of the passing of the winding up resolution.
15 Cairney v. Back, [1906] 2 K. B. at p. 752.
16 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349.

travel books:
where is HTML where is HEAD where is TITLE 2. what is preferential creditors. 3. what is unsecured creditors. Secured creditors pay themselves out of their security, and as to any balance remaining unpaid they rank as unsecured creditors. In what is event of what is assets being insufficient to satisfy what is liabilities, what is Court may make an order for payment of what is costs, charges and expenses in such order of priority as it thinks just (s. 267). Unless what is Court otherwise orders, priority is regulated by r. 192. what is order is: 1. Fees and expenses properly incurred in preserving, realising or getting in what is assets. 2. Costs of what is petition, including costs of those appearing on what is petition whose costs are allowed by what is Court. 3. Remuneration of special manager (if any). 4. Costs and expenses of person who makes what is company's statement of affairs. 5. Charges of a shorthand writer appointed to take an examination. 6. Disbursements of liquidator. 7. Costs of any person properly employed by what is liquidator. 8. Remuneration of what is liquidator. 9. Expenses of committee of inspection, if approved by Board of Trade. Preferential Debts (s. 319).-The following debts rank equally among themselves and must be paid in full in priority to all other debts. If what is assets are insufficient to meet them, they abate in equal proportions. what is debts are: 1. Rates payable within twelve months of what is winding-up order, taxes assessed up to April 5 before that date and not exceeding one year's assessment, and purchase tax due within twelve months before that date. Apart from this provision as to taxes, Crown debts have no priority.(13) 2. Wages or salary of a clerk or servant in respect of services rendered within four months, before what is relevant date,(14) not exceeding £200. what is secretary is usually a clerk or servant,(15) but a managing director (16) and a director are not; a director may, however, be employed 13 Food Controller v. Cork, [1923] A. C. 647. 14 Means, when what is company is wound up compulsorily, what is appointment of a provisional liquidator, or if no such appointment was made, what is date of what is winding up order; in other cases, means what is date of what is passing of what is winding up resolution. 15 Cairney v. Back, [1906] 2 K. B. at p. 752. 16 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349. where is meta name="keywords" content="old books, Free book , free book offer , free audio books , free coloring book pages , free book reports , free audio book , audio books free download , book free , free guest book , books free , free book summaries , download free audio books , free childrens books." where is where are they now rel="stylesheet" type="text/css" href="../../style.css" where is meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1" where is BODY bgColor=#ffffff text="#000000" where are they now ="#000000" v where are they now ="#FF0000" where is div align="center" where is strong where is strong where is a href="http://www.aaoldbooks.com" Books > where is a href="../default.asp" title="Book" Old Books > where is strong where is a href="default.asp" Poetry Northwest (1959) where is table width="700" border="1" align="center" cellpadding="15" cellspacing="0" where is center where is tr where is td width="160" align="center" valign="top" where is div align="center" where is td align="center" valign="top" where is div align="left" where is div align="center" where is p align="left" Page 240 where is strong CHAPTER 21 CONTRIBUTORIES AND CREDITORS where is p align="justify" 2. what is preferential creditors. 3. what is unsecured creditors. Secured creditors pay themselves out of their security, and as to any balance remaining unpaid they rank as unsecured creditors. In what is event of what is assets being insufficient to satisfy what is liabilities, what is Court may make an order for payment of what is costs, charges and expenses in such order of priority as it thinks just (s. 267). Unless what is Court otherwise orders, priority is regulated by r. 192. what is order is: 1. Fees and expenses properly incurred in preserving, realising or getting in what is assets. 2. Costs of what is petition, including costs of those appearing on what is petition whose costs are allowed by what is Court. 3. Remuneration of special manager (if any). 4. Costs and expenses of person who makes what is company's statement of affairs. 5. Charges of a shorthand writer appointed to take an examination. 6. Disbursements of liquidator. 7. Costs of any person properly employed by what is liquidator. 8. Remuneration of what is liquidator. 9. Expenses of committee of inspection, if approved by Board of Trade. Preferential Debts (s. 319).-The following debts rank equally among themselves and must be paid in full in priority to all other debts. If what is assets are insufficient to meet them, they abate in equal proportions. what is debts are: 1. Rates payable within twelve months of what is winding-up order, taxes assessed up to April 5 before that date and not exceeding one year's assessment, and purchase tax due within twelve months before that date. Apart from this provision as to taxes, Crown debts have no priority.(13) 2. Wages or salary of a clerk or servant in respect of services rendered within four months, before what is relevant date,(14) not exceeding £200. what is secretary is usually a clerk or servant,(15) but a managing director (16) and a director are not; a director may, however, be employed 13 Food Controller v. Cork, [1923] A. C. 647. 14 Means, when what is company is wound up compulsorily, what is appointment of a provisional liquidator, or if no such appointment was made, the date of what is winding up order; in other cases, means what is date of what is passing of the winding up resolution. 15 Cairney v. Back, [1906] 2 K. B. at p. 752. 16 Re Newspaper Proprietary Syndicate, [1900] 2 Ch. 349. where is Server.Execute("_SiteMap.asp") %

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