From the following details, determine the order of priority payment out of the realization of liquidation estate assets: Financial debts owed to unsecured creditors; Wages and any unpaid dues owed to employees other than

As per Sections 53 of the Insolvency and Bankruptcy Code, 2016, the proceeds from the sale of the liquidation assets shall be distributed in the order of priority and within such period as specified thereunder. Accordingly, in the present question, the Order of priority payment is given as under: Liquidator's remuneration; Debts owed to a secured creditor who has relinquished the security; Wages and any unpaid dues owed to employees other than workmen for 24 months preceding the liquidation commencement date; Financial debts owed to unsecured creditors; Preference shareholders