(1) Where—
(a) any execution has been levied against the property whether movable or immovable, of an employer, in respect of a judgement against him or her, and any such property has been seized or sold or otherwise realised under such execution; or
(b) on the application of a secured creditor, the property, whether movable or immovable, of an employer has been sold,
any sums due as contributions by such employer shall rank as a privileged debt pari passu with state taxes without the necessity for their registration.
(2) For the purpose of this section, employer includes any company in liquidation.