260 Effect of approval
260 Effect of approval

(1)     This section has effect where [pursuant to section 257 the debtor's creditors decide to approve] the proposed voluntary arrangement (with or without modifications).

(2)     The approved arrangement—

(a)     takes effect as if made by the debtor [at the time the creditors decided to approve the proposal], and

[(b)     binds every person who in accordance with the rules—

(i)     was entitled to vote [at the time the creditors decided to approve the proposal], or

(ii)     would have been so entitled if he had had notice of it,

as if he were a party to the arrangement.

(2A)     If—

(a)     when the arrangement ceases

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