Section 239ACT — Companies Act 1993: Extent to which deed binds creditors

239ACT Extent to which deed binds creditors (1) A deed of company arrangement binds all creditors in respect of claims that arise on or before the cut-off day ( see section 239ACN(2)(i) ) specified in the deed. (2) This section does not prevent a secured creditor from enforcing or otherwise dealing with the charge, except so far as— (a) the deed provides otherwise in relation to a secured creditor 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 orders otherwise under section 239ACV(1)(a) . (3) This section does not affect a right that an owner or lessor of property has in relation to that property, except so far as— (a) the deed provides otherwise 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 orders otherwise under section 239ACV(1)(b) . Compare: Corporations Act 2001 (Australia) s 444D Section 239ACT: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).