Quoted from rubberducks:
The new owners are obligated to fill the old orders, since they took the company on as a going concern, however noble and ultimately unwise that may have been.
Newer orders being filled first is likely due to trying not to haemorrhage unacceptable losses / negative cash flow in the short term.
Whilst a bitter pill, this should be acceptable to old orders since; the money was all gone; they never saw a penny of it; no-one was going to get a machine if they hadn't stepped in; the machine you get will be a vast improvement on the piecemeal crap Andrew tried to peddle as 'production'.
This might change things, if there were several companies in the Heighway group and the investors bought the healthiest one of the group (e.g. if the bought company would have been a "mere" development company, which has now been expended into production) and people would have made their payments to this company instead:
Quoted from Durzel:
(As an aside I note also that Heighway Pinball (Sales) Ltd was dissolved at the end of 2016. How many people who have pre-ordered years ago paid money into that entity?)