262 Challenge of [creditors'] decision
Insolvency Act 1986 (1986 c 45) | Legislation

262  Challenge of [creditors'] decision

(1)     Subject to this section, an application to the court may be made, by any of the persons specified below, on one or both of the following grounds, namely—

(a)     that a voluntary arrangement approved by [a decision of the debtor's creditors pursuant to] section 257 unfairly prejudices the interests of a creditor of the debtor;

(b)     that there has been some material irregularity [in relation to a creditors' decision procedure instigated under that section].

(2)     The persons who may apply under this section are—

(a)     the debtor;

[(b)     a person who—

(i)     was entitled, in accordance with the rules, to vote [in the creditors' decision procedure], or

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

(c)     the nominee (or his replacement under section [256(3), 256A(4)] or 258(3)); and

(d)     if the debtor is an undischarged bankrupt,

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