Insolvency Act

456. Payment of expenses of liquidation

Edition: 2022-12-31 · In force

(1)If the assets of a company are insufficient to satisfy its liabilities, the Court may—

(a)make an order for the expenses incurred in the liquidation to be paid out of the company's assets; and

(b)direct that that payment be given such of priority as the Court considers appropriate.

(2)An order made under subsection (1) has effect irrespective of the provisions of this Act relating to preferential debts.