Subject to the powers and measures exercised by the Central Bank under Articles nos. (142) and (143) of this decree-law, any amounts due and payable by a Licensed Financial Institution placed under resolution by the Central Bank shall be discharged in the following order of priority: 1. Holders of debts secured by movable or immovable property, to the extent of their guarantees of the value of the mortgaged property. 2. Payment of outstanding wages, salaries, and other employment-related remuneration accrued but unpaid for the six (6) months immediately preceding the initiation of resolution; 3. Reasonable expenses incurred by the Central Bank or by any appointed resolution administrator, including fees and costs associated with managing the resolution process, and any loans or advances extended by the Central Bank to ensure continuity of critical operations or functions of the concerned institution; 4. Rights of customers of Licensed Financial Institutions, Insured and Beneficiaries. The Central Bank shall allocate specific assets or proceeds from transferred assets of the concerned institution to satisfy such obligations. Such specific assets and proceeds shall include, with respect to a (Re)Insurance Company, Technical Provisions as well as any amount collected by the concerned institution under the reinsurance arrangements relevant to pay such obligations; 5. Rights of other creditors, as per their order of priority under the provisions of the legislation in force in this regard; and 6. Rights of shareholders of the concerned institution.
Interpretation and application must be checked against the official text and current version.