14. Effect of approval

takes effect as if made by the company at the meeting of the company’s creditors; and

binds every person who in accordance with the rules —

was entitled to vote at that meeting (whether or not he was present or represented at it); or

would have been so entitled if he had had notice of it, as if he were a party to the voluntary arrangement.

when the arrangement ceases to have effect, any amount payable under the arrangement to a person bound by virtue of subsection (2)(b)(ii) has not been paid; and

the arrangement did not come to an end prematurely,

by order stay all proceedings in the winding up or provide for the appointment of the judicial manager to cease to have effect;

give such directions with respect to the conduct of the winding up or the judicial management as it thinks fit for facilitating the implementation of the voluntary arrangement.

at any time before the end of the period of 28 days beginning with the first day on which each of the reports required by section 12(7) has been made to the Court; or

at any time when an application under section 15 or an appeal in respect of such an application is pending, or at any time in the period within which such an appeal may be brought.