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Preferential debts
These are almost the same as in bankruptcy; with the addition that any person who has advanced money for the payment of wages has the same priority as the person receiving payment out of the advance would otherwise have had s.311. The "relevant date" for calculating these debts is the date of the resolution to wind up, or the date of the winding-up order or of the appointment of a provisional liquidator. There are no pre-preferential debts in liquidation, and the only deferred debt is interest in excess of 6 per cent per annum.The preferential debts in bankruptcy include the following:
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are the notes to the financial statements part of the financial reporting
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