(1) The insolvency administrator is to settle the obligations incumbent on the insolvency estate in the following order, and equal-ranking obligations in proportion to the amounts:
1. the costs of the insolvency proceedings;
2. obligations incumbent on the insolvency estate which became legally effective after notification of the insufficiency of the assets without forming part of the costs of the proceedings;
3. the other obligations incumbent on the estate, including lastly the maintenance granted pursuant to sections 100 and 101 (1), sentence 3.
(2) The following are also deemed to be obligations incumbent on the estate within the meaning of subsection (1) no. 2:
1. obligations under a mutual contract for whose performance the administrator opted subsequent to giving notification of the insufficiency of assets;
2. obligations under a continuing obligation for the period after the first date when the administrator was entitled to terminate such contract after giving notification of the insufficiency of assets;
3. obligations under a continuing obligation to the extent that the administrator has claimed its consideration for the benefit of the insolvency estate after giving notification of the insufficiency of assets.