13. Administration and winding-up by the Court: unsecured debts of insolvent Company to rank equally

(1) This paragraph applies in an administration and to a winding-up by the Court.
(2) Unsecured debts (including all or any part of a secured debt which is treated as unsecured in accordance with this Schedule 5) other than Preferential Debts rank equally between themselves and, after the Preferential Debts, must be paid in full unless the assets are insufficient for meeting them, in which case they abate in equal proportions between themselves.