Cross-Border Insolvency Act, 2000 (Act No. 42 of 2000)Chapter 3 : Recognition of Foreign Proceedings and Relief21. Relief that may be granted upon recognition of foreign proceedings |
| (1) | Upon recognition of foreign proceedings, whether main or non-main, where necessary to protect the assets of the debtor or the interests of the creditors, the court may, at the request of the foreign representative, grant any appropriate relief, including— |
| (a) | staying the commencement or continuation of individual legal actions or individual legal proceedings concerning the debtor's assets, rights, obligations or liabilities, to the extent that they have not been stayed under section 20(1)(a) ; |
| (b) | staying execution against the debtor's assets to the extent that it has not been stayed under section 20(1)(b) ; |
| (c) | suspending the right to transfer, encumber or otherwise dispose of any assets of the debtor to the extent that this right has not been suspended under section 20(1)(c) ; |
| (d) | providing for the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor's assets, affairs, rights, obligations or liabilities; |
| (e) | entrusting the administration or realisation of all or part of the debtor's assets located in the Republic to the foreign representative or another person designated by the court; |
| (f) | extending relief granted under section 19(1); |
| (g) | granting any additional relief that may be available to a trustee, liquidator, judicial manager, curator of an institution, or receiver under the laws of the Republic. |
| (2) | Upon recognition of foreign proceedings, whether main or non-main, the court may, at the request of the foreign representative, entrust the distribution of all or part of the debtor's assets located in the Republic to the foreign representative or another person designated by the court, provided that the court is satisfied that the interests of creditors in the Republic are adequately protected. |
| (3) | In granting relief under this section to a representative of foreign non-main proceedings, the court must be satisfied that the relief relates to assets that, under the law of the Republic, should be administered in the foreign non-main proceedings or concerns information required in those proceedings. |
| (4) | Without derogating from the application of the laws of the Republic generally, in granting relief under this section the court must indicate the laws of the Republic relating to the administration, realisation or distribution of a debtor's estate in the Republic that will apply. |