From the point of view of folk enthusiasts having faith in festival organisers it would be better if festival ticket holders were refunded, that would also be the correct moral thing to do.
however Howeard if you think it more important that other creditors are paid first, Dick Miles

It would appear that Dick Miles cannot recognise, or simply ignores, the fact that when an independent business venture (Which is what a Limited liability Company is in law) goes into receivership there is a strictly enforced procedure put in train. So with reference to your words quoted above Dick, it does not matter a jot what Howeard [sic] thinks is more important, what happens is governed by law. HMRC gets first dibs on any cash or assets held and they get their due in full, there then exists a strict pecking order of who gets paid what and when.