| Commentary

36.4 Effect of voluntary arrangement

| Commentary

36.4 Effect of voluntary arrangement

Whichever procedure the debtor chooses to use1, approval of the debtor’s proposal in accordance with the requirements of the Insolvency Act 1986 and the Insolvency (England and Wales) Rules 2016 (2016 Rules):

  1. 36.4.1

        takes effect as if made by the debtor at the time the creditors decided to approve the proposal; and

  2. 36.4.2

        binds every person who, in accordance with the 2016 Rules, was entitled to vote at the time the creditors decided to approve the proposal, or would have been so entitled if he had had notice of it, as if

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