Article 115 - Secured Creditors
(1) At a meeting of creditors in respect of a
Company in administration, a Secured Creditor is entitled to vote in respect of the whole value of his debt, whether or not that debt is secured.
(2) Subject to Article 115(1), at any other meeting of creditors a
Secured Creditor is entitled to vote only in respect of the balance (if any) of his debt after deducting the value of his Security Interest as estimated by him.