1) Outline the order of payments made by a liquidator and specify the relevant the subsections from the Corporations Act

2 Philippa is the promoter of a soon to be registered company, Visionetworks. Before theVisionetworks is registered, Philippa negotiates and signs four contracts in the name ofthecompany. When Visionetworks is eventually registered, Philippa is appointed as afoundingdirector. Explain to Philippa how she can avoid being liable for the preregistration contracts sheentered into