(1) In the distribution of the property of a bankrupt and in the distribution of the assets of any company being wound up under the provisions of this Code, there shall be paid in priority to other debts—
(a) all municipal taxes assessed upon the bankrupt or company;
(b) all rent due and owing in respect of a period not exceeding 12 months before the date of the receiving order or winding up;
(c) the wages of domestic servants and hired persons for a period not exceeding 3 months before the aforesaid date, and all sums due for the supply of provisions during the like period;
(d) the wages or salaries of clerks, apprentices or journeymen for a like period of 3 months, not exceeding in any one case the sum of $240.
(2) Subject as aforesaid, all debts proved in bankruptcy shall be payable pari passu.
(3) If there is any surplus after payment of all proved debts, it shall be applied in payment of interest thereon at the legal rate from the date of the receiving order or winding up.
(4) In the case of a deceased person who dies insolvent, his or her funeral expenses and the expenses of his or her last illness shall have priority over all other claims.