4. Priority of distribution of assets

Generally speaking, funds realized during the process of the wind up will be used in the following priority: -

To pay for the costs and expenses of the realization;
To pay for the costs and expenses of the petition for winding up;
To pay for the costs and expenses of the liquidator; and
If there are funds remaining, it will be used for distribution of dividends to the creditors on a pro rata basis with the following priority:
1. Preferential creditors: For example, tax owed to the government and wages owed to employees of the company; and
2. Ordinary creditors.