Section 262(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— 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; that there has been some material irregularity in relation to a creditors' decision procedure instigated under that section.

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Source: legislation.gov.uk · retrieved 2026-09-04