UNCITRAL Model Law on Cross-Border Insolvency:Article 29 Coordination of a proceeding under [identify laws of the enacting State relating to insolvency] and a foreign proceeding

UNCITRAL Model Law on Cross-Border Insolvency

Article 29 Coordination of a proceeding under [identify laws of the enacting State relating to insolvency] and a foreign proceeding

Geldend

Documentgegevens:

Geldend vanaf 30-05-1997

Redactionele toelichting: Bron: www.uncitral.org.
Bronpublicatie:: 30-05-1997, Internet 1997, www.uncitral.org (uitgifte: 30-05-1997, kamerstukken/regelingnummer: -)
Inwerkingtreding: 30-05-1997
Bronpublicatie inwerkingtreding:: 30-05-1997, Internet 1997, www.uncitral.org (uitgifte: 30-05-1997, kamerstukken/regelingnummer: -)
Vakgebied(en): Insolventierecht / Algemeen
Internationaal privaatrecht / Conflictenrecht

Where a foreign proceeding and a proceeding under [identify laws of the enacting State relating to insolvency] are taking place concurrently regarding the same debtor, the court shall seek cooperation and coordination under articles 25, 26 and 27, and the following shall apply:

(a)

When the proceeding in this State is taking place at the time the application for recognition of the foreign proceeding is filed,

(i): Any relief granted under article 19 or 21 must be consistent with the proceeding in this State; and
(ii): If the foreign proceeding is recognized in this State as a foreign main proceeding, article 20 does not apply;

(b)

When the proceeding in this State commences after recognition, or after the filing of the application for recognition, of the foreign proceeding,

(i): Any relief in effect under article 19 or 21 shall be reviewed by the court and shall be modified or terminated if inconsistent with the proceeding in this State; and
(ii): If the foreign proceeding is a foreign main proceeding, the stay and suspension referred to in paragraph 1 of article 20 shall be modified or terminated pursuant to paragraph 2 of article 20 if inconsistent with the proceeding in this State;

(c)

In granting, extending or modifying relief granted to a representative of a foreign non-main proceeding, the court must be satisfied that the relief relates to assets that, under the law of this State, should be administered in the foreign non-main proceeding or concerns information required in that proceeding.