The Cross-Border Insolvency Regulations (Northern Ireland) 2007 No. 115

SCHEDULE 1 UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY

PART 1 GENERAL PROVISIONS

CHAPTER III RECOGNITION OF A FOREIGN PROCEEDING AND RELIEF

Article 20. Effects of recognition of a foreign main proceeding

2.  The stay and suspension referred to in paragraph 1 shall be—

(a) the same in scope and effect as if the debtor, in the case of an individual, had been adjudged bankrupt under the Insolvency (Northern Ireland) Order 1989, or, in the case of a debtor other than an individual, had been made the subject of a winding-up order under that Order; and

(b) subject to the same powers of the court and the same prohibitions, limitations, exceptions and conditions as would apply under the law of Northern Ireland in such a case,

and the provisions of paragraph 1 shall be interpreted accordingly.