▁cred itor ' s ▁representative , ▁or ▁ ▁the ▁rights ▁of ▁a ▁secured ▁cred itor . ▁ ▁The ▁Ontario ▁Court ▁of ▁App e al ▁has ▁ruled ▁that , ▁in ▁the ▁case ▁of ▁a ▁" require ment ▁to ▁pay " ▁under ▁the ▁In come ▁Tax ▁Act ▁( Can ada ) ▁that ▁was ▁issued ▁after ▁a ▁notice ▁of ▁application ▁to ▁appoint ▁a ▁receiver ▁( but ▁before ▁the ▁court ▁heard ▁the ▁application ), ▁supported ▁by ▁an ▁ex ▁parte ▁" je op ard y ▁order " ▁issued ▁by ▁the ▁Federal ▁Court ▁of ▁Canada ▁under ▁s . ▁ 2 2 5 . 1 ( 1 ) ▁of ▁that ▁Act , ▁the ▁" require ment ▁to ▁pay " ▁was ▁considered ▁to ▁have ▁been ▁completely ▁executed ▁on ▁the ▁date ▁of ▁its ▁issue , ▁and ▁thus ▁took ▁preced ence ▁over ▁other ▁credit ors ' ▁claims . ▁ ▁S ett lement ▁of ▁the ▁ins ol vent ▁person ' s ▁estate ▁ ▁The ▁trust ee / rece iver ▁must ▁first ▁realize ▁the ▁amount ▁of ▁the ▁proceed s ▁from ▁the ▁property ▁that ▁is ▁available ▁for ▁payment ▁to ▁the ▁different ▁classes ▁of ▁credit ors , ▁and ▁different ▁rules ▁apply ▁according ▁to ▁the ▁type ▁of ▁proceed ing . ▁They ▁are ▁summar ized ▁as ▁follows : ▁ ▁The ▁estate ▁is ▁then ▁settled , ▁using ▁the ▁priority ▁of ▁claims ▁out lined ▁in ▁the ▁B IA . ▁ ▁The ▁B IA ''' s ▁definition ▁of ▁property ▁is ▁quite ▁broad : ▁ ▁As ▁a ▁consequence , ▁the ▁Supreme ▁Court ▁of ▁Canada ▁has ▁ruled ▁that ▁direct ▁payment ▁cla uses ▁in ▁contract