SCHEDULE 1UNCITRAL MODEL LAW ON CROSS-BORDER INSOLVENCY
PART 1GENERAL PROVISIONS
CHAPTER IIIRECOGNITION OF A FOREIGN PROCEEDING AND RELIEF
Article 23. Actions to avoid acts detrimental to creditors
1
Subject to paragraphs 6 and 9, upon recognition of a foreign proceeding, the foreign representative has standing to make an application to the court for an order under or in connection with Articles 202, 203, 206, 207, 312, 313, 315A, 316 and 367 of the Insolvency (Northern Ireland) Order 198925.
2
Where the foreign representative makes such an application (“an article 23 application”), the Articles referred to in paragraph 1 and Articles 204, 205, 314, 315, 315B, 315C, 315D, 315E, 315F, 368 and 369 of the Insolvency (Northern Ireland) Order 198926 shall apply—
a
whether or not the debtor, in the case of an individual, has been adjudged bankrupt, or, in the case of a debtor other than an individual, is being wound up or is in administration, under Northern Ireland insolvency law; and
b
with the modifications set out in paragraph 3.
3
The modifications referred to in paragraph 2 are as follows—
a
for the purposes of Articles 205(2A)(a) and 315(2A)(a) of the Insolvency (Northern Ireland) Order 1989, a person has notice of the relevant proceedings if he has notice of the opening of the relevant foreign proceeding;
b
for the purpose of Articles 204(1) and 207(3) of that Order, the onset of insolvency shall be the date of the opening of the relevant foreign proceeding; and
c
the periods referred to in Articles 206(2), 314(1)(a),(b) and (c) and 316(2) of that Order shall be periods ending with the date of the opening of the relevant foreign proceeding.
4
For the purposes of paragraph 3, the date of the opening of the foreign proceeding shall be determined in accordance with the law of the State in which the foreign proceeding is taking place, including any rule of law by virtue of which the foreign proceeding is deemed to have opened at an earlier time.
5
When the foreign proceeding is a foreign non-main proceeding, the court must be satisfied that the article 23 application relates to assets that, under the law of Northern Ireland, should be administered in the foreign non-main proceeding.
6
At any time when a proceeding under Northern Ireland insolvency law is taking place regarding the debtor the foreign representative shall not make an article 23 application except with the permission of the court
7
On making an order on an article 23 application, the court may give such directions regarding the distribution of any proceeds of the claim by the foreign representative, as it thinks fit to ensure that the interests of creditors in Northern Ireland are adequately protected.
8
Nothing in this article affects the right of a Northern Ireland insolvency officeholder to make an application under or in connection with any of the provisions referred to in paragraph 1.
9
Nothing in paragraph 1 shall apply in respect of any preference given, floating charge created, alienation, assignment or relevant contributions (within the meaning of Article 315A(5) of the Insolvency (Northern Ireland) Order 1989) made or other transaction entered into before the date on which this Law comes into force.