The method of distribution when the proceeds of the levy are less than the amount of the claims is as follows (CCP 1208):
Claims exceed the proceeds received after levy, whether undisputed, or disputed but judgment was established - among claimants in proportion to the amount of their claim after costs to plaintiff (or judgment creditor) have been satisfied.
Sufficient funds established but not received by the levying officer - any claimants, or their assignees, have the right to proceed directly against the money or other property levied on in individual or joint actions by themselves or their assignees against the debtor. Such action will set the levy aside in order for the claimants to get their own writs. Any funds collected thereof shall be shared with any other claimants in 1.