In order of repayment in a liquidation situation, rank the following in sequence starting with the first in priority down to the last. The liquidation commenced on 8 February, 2014
1 £0.50 ordinary shares issued on incorporation 2 3.75% fixed charge debentures issued on 1 January, 2010 3 4.25% cumulative redeemable preference shares issued on 10 January, 2014 4 3.9% floating charge debentures issued on 31 December, 2008
A 4, 2, 3, 1 B 2, 4, 3, 1 C 1, 4, 2, 3 D 1, 2, 4, 3
Could you please help me clarify this kind of MCQs?