Section 266: Extent to which deed binds creditors

266. Extent to which deed binds creditors (1) A deed of company arrangement binds all creditors including secured creditors in respect of claims that arise on or before the day specified in the deed pursuant to section 260 (2) (h). (2) A secured creditor may not realise or otherwise enforce his charge except so far as— (a) the deed provides for the secured creditor to realise or enforce his charge and the secured creditor at the watershed meeting I14 – 149 [Issue 7] Insolvency Act voted in favour of the resolution as a result of which the company executed the deed; or (b) the Court makes an order to that effect under section 268. (3) An owner or lessor of property may not exercise his rights in relation to that property, except so far as— (a) the deed provides for the exercise of rights in relation to an owner or lessor of property who at the watershed meeting voted in favour of the resolution as a result of which the company executed the deed; or (b) the Court makes an order to that effect under section 268.