Document ID: chunk:federal_register_of_legislation:C2021C00032:schedule:1:p5
Version: federal_register_of_legislation:C2021C00032
Segment Type: schedule
Provision Reference: sch 1 (pt 5/12)
Character Range: 27127–29935

if:

 (a)  The foreign proceeding is a proceeding within the meaning of subparagraph (a) of article 2;

 (b)  The foreign representative applying for recognition is a person or body within the meaning of subparagraph (d) of article 2;

 (c)  The application meets the requirements of paragraph 2 of article 15;

 (d)  The application has been submitted to the court referred to in article 4.

2. The foreign proceeding shall be recognized:

 (a)  As a foreign main proceeding if it is taking place in the State where the debtor has the centre of its main interests; or

 (b)  As a foreign non‑main proceeding if the debtor has an establishment within the meaning of subparagraph (f) of article 2 in the foreign State.

3. An application for recognition of a foreign proceeding shall be decided upon at the earliest possible time.

4. The provisions of articles 15, 16, 17 and 18 do not prevent modification or termination of recognition if it is shown that the grounds for granting it were fully or partially lacking or have ceased to exist.

Article 18
Subsequent information
From the time of filing the application for recognition of the foreign proceeding, the foreign representative shall inform the court promptly of:

 (a)  Any substantial change in the status of the recognized foreign proceeding or the status of the foreign representative's appointment;

 (b)  Any other foreign proceeding regarding the same debtor that becomes known to the foreign representative.

              Article 19

Relief that may be granted upon application for recognition
of a foreign proceeding

1. From the time of filing an application for recognition until the application is decided upon, the court may, at the request of the foreign representative, where relief is urgently needed to protect the assets of the debtor or the interests of the creditors, grant relief of a provisional nature, including:

(a)  Staying execution against the debtor's assets;

(b)  Entrusting the administration or realization of all or part of the debtor's assets located in this State to the foreign representative or another person designated by the court, in order to protect and preserve the value of assets that, by their nature or because of other circumstances, are perishable, susceptible to devaluation or otherwise in jeopardy;

(c)  Any relief mentioned in paragraph 1 (c), (d) and (g) of article 21 below.

2. [Insert provisions (or refer to provisions in force in the enacting State) relating to notice.]

3. Unless extended under paragraph 1 (f) of article 21, the relief granted under the present article terminates when the application for recognition is decided upon.

4. The court may refuse to grant relief under the present article if such relief would interfere with the administration of a foreign main