Priority

If a foundation is declared invalid pursuant to this Act and the Court is satisfied that a foundation council, member, protector, founder or beneficiary has not acted in bad faith– (a) the foundation council and each of its members shall have a first and paramount charge, pari passu, over the foundation endowment in an amount equal to all outstanding fees, charges, commissions and disbursements; (b) the protector shall have a second charge over the foundation endowment in an amount equal to all outstanding fees, charges, commissions and disbursements; (c) the foundation council, members, protector, founder or beneficiary shall have a third 74 charge, pari passu, over the foundation endowment in an amount equal to the entire cost properly incurred by each of them in the prosecution or defense of the action or (d) the beneficiaries shall have a fourth charge, pari passu, over the foundation endowment in an amount equal to each of their pre-existing rights, claims and interests; and (e) the founder shall have a fifth charge over the foundation endowment in an amount equal to all other outstanding fees and costs, and all other pre-existing rights, claims and interests.