227. Preferential Debts

Past version: effective from 14/06/2015 - 13/06/2015
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(1) Preferential Debts rank equally among themselves after the expenses of the winding-up and shall be paid in full, unless the assets are insufficient to meet them, in which case they abate in equal proportions.
(2) "Preferential Debts" means the debts listed in Schedule 8 (Preferential Debts), and references to preferential creditors shall be read accordingly.