Full legislation
s.140
Voting on voluntary arrangements
Where proposals for voluntary arrangements are made by a firm, and by the partners
therein individually, the proposal made to the joint creditors shall be considered and
voted upon by them apart from every set of separate creditors, and the proposal made to
each separate set of creditors shall be considered and voted upon by such separate set
of creditors apart from all other creditors. Such proposals may vary in character and
amount. Where a voluntary arrangement is approved, the bankruptcy order shall be
discharged only so far as it relates to the estate the creditors of which have accepted
the voluntary arrangement.