Section 269: Effect of deed on company’s debts
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
269. Effect of deed on company’s debts
(1) A deed of company arrangement releases the company from a debt
only insofar as—
(a) the deed provides for the release; and
(b) the creditor concerned is bound by the deed.
(2) The release of the company from a debt under subsection (1) shall
not discharge or otherwise affect the liability of—
(a) a guarantor of the debt; or
(b) a person who has indemnified the creditor concerned against
default by the company in relation to the debt.