559. Power to accept composition or scheme after adjudication
Notwithstanding adjudication, the creditors may, if they think fit, at any time after the adjudication, by a resolution of the majority in number and ¾ in value of all the creditors who have proved, resolve to entertain a proposal for a composition in satisfaction of the debts due to them under the bankruptcy, or for a scheme of arrangement of the bankrupt's affairs; and thereupon the same proceedings shall be taken and the same consequences shall ensue mutatis mutandis as in the case of a composition or scheme accepted before adjudication.