229 Expenses of voluntary winding up

All expenses properly incurred in the winding up, including the remuneration of the liquidator, are payable out of the company’s assets in priority to all other claims1. The Insolvency (England and Wales) Rules 20162 (the ‘2016 Rules’) contain detailed and comprehensive provision as to what these expenses consist of and the order of their payment, and this, of course, is relevant where the assets of the company are insufficient to meet the expenses3. The court has power to vary the order of payment under the Insolvency Act 1986 Section 156 which stipulates that the

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