Schedule B1, paragraph 65

If the assets of a company are sufficient to meet any debts or other liabilities payable under paragraph 64A in full, the administrator of the company may make a distribution to any other creditor of the company. Sections 175 and 176AZA shall apply in relation to a distribution under this paragraph as they apply in relation to a winding up. A payment may not be made by way of distribution under this paragraph to a creditor of the company who is neither secured nor preferential unless— the distribution is made by virtue of section 176A(2)(a), or the court gives permission.

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Source: legislation.gov.uk · retrieved 2026-09-04