Asset Distribution in Liquidation: Prioritize Unsecured Creditors' Financial Debts per Section 53(1) After Employee Dues Settled.

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....CIRP - priority of distribution of assets in liquidation - liquidation proceedings - the financial debts owed to unsecured creditors have to be distributed by the liquidator as per the preference set out under Section 53(1) of Insolvency and Bankruptcy Code, 2016 i.e after distributing the workmen dues, wages and unpaid dues to the employees - HC....