Older Persons Act, 2006
R 385
Cross-Border Insolvency Act, 2000 (Act No. 42 of 2000)Chapter 5 : Concurrent Proceedings28. Commencement of proceedings under laws of Republic relating to insolvency after recognition of foreign main proceedings |
| (1) | After recognition of foreign main proceedings, proceedings under the laws of the Republic relating to insolvency may be commenced only if the debtor has assets in the Republic. |
| (2) | The effects of such proceedings are restricted to the assets of the debtor that are located in the Republic and, to the extent necessary to implement cooperation and coordination under sections 25, 26 and 27, to other assets of the debtor that, under the law of the Republic, should be administered in those proceedings. |
