Examples of using Foreign main in English and their translations into Chinese
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Under subparagraph(a), where there had been recognition of a foreign main proceeding, relief in the case of a subsequent proceeding must be consistent, which meant that the foreign main proceeding took precedence.
It enshrined the conclusion of the Working Group that a local proceeding should take precedence even over a foreign main proceeding, in the sense that the local court could so decide.
Ms. MEAR(United Kingdom) agreed with the suggestion that recognition of a foreign main proceeding should be necessary for the presumption of insolvency under paragraph(2).
The aim was to create equality of treatment: under article 22(1), recognition of a foreign main proceeding meant that a local proceeding must be in the nature of a non-main proceeding, with certain limitations stipulated.
Such stay and suspension are“mandatory” in the sense that they either flow automatically from the recognition of a foreign main proceeding or the court is bound to issue the appropriate order.
In the absence of evidence to the contrary, recognition of a foreign main proceeding is, for the purpose of commencing a proceeding under the laws of the recognizing State, proof that the debtor is insolvent.
There was certainly a need to deal with automatic effects of a foreign main proceeding when there was already a local main proceeding, but it was a case of asking the court to coordinate.
Mr. WIMMER(Germany) proposed that the chapeau of article 16(1) should be amended to read:“Upon recognition of a foreign main proceeding, with the exclusion of proceedings opened only on an interim basis,”.
Ms. INGRAM(Australia) agreed that paragraph(3)(a) should say specifically that, in the case of a foreign main proceeding, article 16 did not apply.
Paragraph(1) in document A/CN.9/435 dealt with one possible combination of factors: the opening of a local proceeding after recognition of a foreign main proceeding.
In the absence of evidence to the contrary, recognition of a foreign main proceeding is, for the purpose of commencing a proceeding under[identify laws of the enacting State relating to insolvency], proof that the debtor is insolvent.
(a) after recognition of a foreign main proceeding any relief[granted][to be granted] to a representative of a foreign non-main proceeding under article 15 or 17 must be consistent with the conduct of the foreign main proceeding;
The court granted the application pursuant to 11 U.S.C.§ 1517[Art. 17 MLCBI], recognizing the foreign proceeding as a foreign main proceeding pursuant to 11 U.S.C.§ 1502(4)[Art. 2(b) MLCBI].
The insolvency representative(the" foreign representative") of an English insolvency proceeding(" foreign proceeding") sought recognition of the foreign proceeding as" foreign main proceeding" under the law enacting the MLCBI in the United States of America.
Keywords: foreign main proceeding.
Keywords: foreign main proceedings; creditors-protection.
Keywords: foreign main proceeding; procedural issues.
Effects of recognition of a foreign main proceeding.
The proceedings were subsequently recognized as foreign main proceedings.
The court recognized the proceedings as foreign main proceedings.