SECTION 167

Proceeds from the sale of movable property shall be distributed to the following: 1° creditors owed legal costs incurred in the process leading to the sale of the property and in the actual distribution of the proceeds; 2° creditors who incurred cost in preserving the debtor’s property in the interest of the creditor with older debts; 3° creditors of highly preferred wages in proportion to the value of the property with the assets as a whole; 4° creditor guaranteed by a pledge following the date when the pledge was signed; 5° creditors guaranteed by a pledge or preferential right subject to publication, each according to his rank in the Trade and Personal Property Credit Register; 6° creditors with a special personal property lien, each according to the property charged with the lien; 7° creditors of the body of creditors as defined by Article 117 above; 8° creditors with a general lien following the order established by the Uniform Act organizing securities; 9° unsecured creditors. Where the funds are not enough to fully pay off the creditors of any of the categories mentioned in 1°, 2°, 3°, 6°, 7° and 8° of this article the said creditor occupying equal rank, the funds shall be distributed in proportion to their total debts.