1282 Payment of expenses of winding up
Companies Act 2006 (2006 c 46) | Legislation

Expenses of winding up

1282  Payment of expenses of winding up

(1)     In Chapter 8 of Part 4 of the Insolvency Act 1986 (c 45) (winding up of companies: provisions of general application), before section 176A (under the heading “Property subject to floating charge”) insert—

“176ZA Payment of expenses of winding up (England and Wales)

(1)     The expenses of winding up in England and Wales, so far as the assets of the company available for payment of general creditors are insufficient to meet them, have priority over any claims to property comprised in or subject to any floating charge created by the company and shall be paid out of any such property accordingly.

(2)     In subsection (1)—

(a)     the reference to assets

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