Theresa Black was appointed Liquidator of Rockabilly Entertainment Pty Ltd by order of the federal court on 1^st April 2021.. Theresa has completed the realization of company property which has yielded $140,000. Having adjudicated the submitted proofs of debt. Theresa has listed the following creditors of Rockabilly Entertainmnet Pty. Ltd.

Scott and Morisson Solicitors Costs in obtaining winding up order 7,500

Therese Black, Liquidator Remuneration 38,000

Mick Jones, employee, outstanding annual leave at liquidation 4,500

Australian Taxation Office

Unpaid tax assessed on Rockabilly Entertainment Pty Ltd 95,000

Australian Taxation Office PAYG Tax owing 25,000

Sparky Electricians for work completed before the liquidation 1,800

Hammersmith Auctioneers

Auctioning company property on instructions of Theresa Black 19,000

Walter Long(Director of Rockabilly Ent. P.Ltd)

Unsecured Loan 21,000

Prime pencils Computer Supplies delivered before liquidation 4,000

Wages due at liquidation 4,500

Queensland Governmnet

Unpaid payroll tax assessed on company as at date of liquidation 6,000

Ledger and Balance, AccountantsFees for work done prior to Liquidation 5,000

Determine how the liquidator, Theresa Black will distribute the $140,000to the creditors of Rockabilly Entertainmnet PTY LTD.

Show all your workings and provide references to sections of the Corporation Act 2001 to support the priority of the payments made.