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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 276 

Arrangement when binding on creditors.

276.(1) Any arrangement entered into between a company about to be, or in the
course of being, wound up and its creditors shall, subject to the right of
appeal under this section, be binding on the company if sanctioned by an
extraordinary resolution and on the creditors if acceded to by three-fourths
in number and value of the creditors.

(2) Any creditor or contributory may, within three weeks from the completion
of the arrangement, appeal to the court against it, and the court may
thereupon, as it thinks just, amend, vary or confirm the arrangement.

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© 1960 Crown Copyright

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