From ASICLIQUIDATION:A GUIDE FOR CREDITORS© Australian...

From ASIC

LIQUIDATION:A GUIDE FOR CREDITORS
© Australian Securities & Investments Commission,
30
January 2012
Page
7
of
10
Payment of dividends
If there are funds left over after payment of the costs of the liquidation, and payments to other priority
creditors, including employees, the liquidator will pay these to unsecured creditors as a dividend.
Generally, the order in which funds are
distributed is:
1.
costs and expenses of the liquidation, including liquidators’ fees
2.
outstanding employee wages and superannuation
3.
outstanding employee leave of absence (including annual leave, sick leave — where applicable — and long service leave)
4.
employee re trenchment pay, and
5.
unsecured creditors.
Each category is paid in full before the next category is paid. If there are insufficient funds to pay a
category in full, the available funds are paid on a pro rata basis (and the next category or categories
will
be paid nothing)

Point 5 would include shareholders.

https://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/Liquidation_guide_for_creditors.pdf/$file/Liquidation_guide_for_creditors.pdf