Global tours Pty Ltd (GT) was wounded up by order of the Federal Court on April 2021. Total property realisations amount to $125, 000.00. The following creditors’ proofs of debt were admitted by the Liquidator- Kim Wong.

Lloyds Auctioneers- auctioning company property on Kim Wong’s instructions $4000

Peter Benchley, Solicitor – costs in obtaining winding up order $5,500

Roundtree, Director of GT – Wages owing at liquidation. $15,000

Accountants R US- accounting fees pre- Liquidation    $25,000

Fix it Carpenters- office renovations pre- Liquidation $56,000

Fair Entitlement Guarantee- employee entitlement paid $12,000

Australian Taxation Office- unremitted group tax $40,000

Australian Taxation Office- unpaid tax assesses on company $65,000

Roundtree, (Director of GT) loan (unsecured)    $45,000

Kim Wong Liquidator- remuneration $25,000

NRMA Insurance- Insurance cover for GT property $2,500

Queensland Government-

unpaid payroll tax assessed on the company as at the date of liquidation $12,000

Determine how the Liquidator, George Green will distribute to the $125,000 to GT creditors.

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