Priority of payments in winding up: company assets must meet specified creditor and administration costs before distribution. Application of company assets in a court winding-up follows a specified order of priority after payment of preservation expenses and subject to secured creditors and court orders: taxed petition costs, costs for preparing the statement of affairs, Official Liquidator disbursements (other than preservation expenses), costs of persons employed by the Official Liquidator, government fees, and sanctioned Committee of Inspection expenses. Advocate bills require Taxing Officer allowance and sanction for appointment to assist the liquidator; the rule does not affect costs ordered in separate proceedings.