Sellotape Tampal Sdn Bhd (STSB) has entered into several loan transactions with the following parties: -

a) A loan was made by STSB from Bank Ahkau in March 2019 which are secured by a floating charge against the company's entire stocks. The instrument creating the charge expressly stated that STSB should not at any liberty to create any other charges on its properties in priority thereto. b) Prior to STSB liquidation in May 2019, it had received a loan from Bank Badrul where the loan was secured by a fixed charge over the STSB's land in Cheras.

c) Later, STSB created another fixed charge over its Building in favor of Bank Congkak. All the above charges were registered except for the charge created with Bank Congkak.

During the proses of liquidation, STSB discovered that the assets available were insufficient to settle all the debts. Moreover, there were also claims made by the employees of STSB for unpaid salaries and also claim by the Employees Provident Fund Department (EPF) for the unpaid contributions. Advise the liquidator as to the priority of payment to the creditors.