Convention on International Interests in Mobile Equipment Act, 2007 (Act No. 4 of 2007SchedulesSchedule 1 : ConventionChapter VIII : Effects of an International Interest as against Third PartiesArticle 30 - Effects of insolvency |
| (1) | In insolvency proceedings against the debtor an international interest is effective if prior to the commencement of the insolvency proceedings that interest was registered in conformity with this Convention. |
| (2) | Nothing in this Article impairs the effectiveness of an international interest in the insolvency proceedings where that interest is effective under the applicable law. |
| (3) | Nothing in this Article affects— |
| (a) | any rules of law applicable in insolvency proceedings relating to the avoidance of a transaction as a preference or a transfer in fraud of creditors; or |
| (b) | any rules of procedure relating to the enforcement of rights to property which is under the control or supervision of the insolvency administrator. |