Subject to the provisions of this Act as to preferential payments, the company's property in a voluntary winding up shall on the winding up be applied in satisfaction of the company's liabilities pari passu and, subject to that application, shall (unless the articles otherwise provide) be distributed among the members according to their rights and interests in the company.
Section 107: Distribution of company's property.
Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk
Part IV: Winding Up of Companies Registered under the Companies Acts — Chapter V: Provisions Applying to both kinds of Voluntary Winding Up
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