This Practice Note, produced in partnership with South Square, compares the order of payments to creditors in various insolvency processes: liquidation, administration, administrative receivership, company voluntary arrangements (CVAs) and bankruptcy and the key issues/considerations for each. It covers: the pari passu principle, preferential debts, the prescribed part under s 176A of IA 1986 , fixed and floating charges and secured debts generally, expenses, remuneration and distribution of surplus.