Part 10 — Dissolution Division 1 Cancellation of Incorporation
283 Preferential payments
Standards Code, in a winding-up there shall be paid in priority to
all other debts
(a) all Government or property taxes and rates assessed on or
due by the company up to January 1 next before the date
mentioned in subsection (6), but in respect of any particular
tax or rate not exceeding in the whole one year's
assessment, and
(b) unless the company is being wound up voluntarily merely
for the purpose of reconstruction or of amalgamation with
RSA 2000
another company, the amount of any assessment under the
Workers' Compensation Act, the liability for which accrued
before that date.
(2) The foregoing debts
(a) rank equally among themselves and shall be paid in equal
proportions, and
(b) insofar as the assets of th e company available for payment
of general creditors are insufficient to meet them, have
priority over the claims of holders of debentures under any
floating charge created by the company, and shall be paid
accordingly out of any property comprised in or subject to
that charge.
(3) Subject to the retention of the sums that may be necessary for
the costs and expenses of the winding-up, the foregoing debts shall
be discharged forthwith so far as the assets are sufficient to meet
them.
(4) In the event of the landlord or other person distraining or
having distrained on any goods or effects of the company within
one month next before that date, the debts to which priority is given
by this section are a first charge on the goods or effects so
distrained on, or the proceeds of the sale thereof, but in respect of
any money paid under any such charge the landlord or other person
has the same rights of priority as the person to whom the payment
is made.
(5) If any payment on account of wages or salary has been made to
any clerk, servant, worker or labourer in the employment of a
company out of money advanced by some person for that purpose,
that person has in a winding-up a right of priority in respect of the
money so advanced and paid up to the amount by which the sum in
respect of which that clerk, servant, worker or labourer would have
been entitled to priority in the winding-up has been diminished by
reason of the payment having been made.
(6) The date hereinbefore in this section referred to is
(a) in the case of a company th at is ordered to be wound up by
the Court and that had not previously commenced to be
wound up voluntarily, the date of the winding-up order, and
(b) in any other case, the date of the commencement of the
winding-up.
RSA 2000 cC-21 s283;2020 c25 s2(122)
RSA 2000