| Commentary

249 Pre-preferential debts

| Commentary

249 Pre-preferential debts

Pre-preferential debts are a vestigial class of debts given priority next after the payment of the bankruptcy costs and expenses by specific statutory authority, which is expressly preserved by the Insolvency Act 19861. They relate to:

  1. 249.1

        officers of friendly societies;

  2. 249.2

        insolvent treasurers of trustee savings banks; and

  3. 249.3

        expenses of a trustee under a deed of arrangement.

In addition fees paid to a bankrupt employer by an apprentice have this super-priority2.

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