Concept:In a company winding-up, claims are settled in a fixed legal order, with equity owners receiving payment last.
Explanation:When a company is wound up, its assets are first used to pay external liabilities.
Creditors such as debenture holders and trade creditors are paid before shareholders.
Preference shareholders have priority over ordinary shareholders for capital repayment.
Ordinary shareholders are the residual owners of the business.
They are paid only after all other claims have been fully settled.
Therefore, they are the parties paid last in the event of winding-up.
Answer:Ordinary shareholders (Option C).