• CHAPTER III CHAPTER III — Recognition of a Foreign Proceeding and Relief

    • Article 15. Application for recognition of a foreign proceeding

      (1) A foreign representative may apply to the Court for recognition of the foreign proceeding in which the foreign representative has been appointed.
      (2) An application for recognition shall be accompanied by —
      (a) a certified copy of the decision commencing the foreign proceeding and appointing the foreign representative;
      (b) a certificate from the foreign court affirming the existence of the foreign proceeding and of the appointment of the foreign representative; or
      (c) in the absence of evidence referred to in sub-paragraphs (a) and (b), any other evidence acceptable to the Court of the existence of the foreign proceeding and of the appointment of the foreign representative.
      (3) An application for recognition shall also be accompanied by a statement identifying all foreign proceedings and proceedings under these Regulations in respect of the debtor that are known to the foreign representative.
      (4) The Court may require a translation of documents supplied in support of the application for recognition into an official language of the Abu Dhabi Global Market.

    • Article 16. Presumptions concerning recognition

      (1) If the decision or certificate referred to in paragraph (2) of Article 15 indicates that the foreign proceeding is a proceeding within the meaning of sub-paragraph (a) of Article 2 and that the foreign representative is a person or body within the meaning of sub-paragraph (d) of Article 2, the Court is entitled to so presume.
      (2) The Court is entitled to presume that documents submitted in support of the application for recognition are authentic, whether or not they have been legalised.
      (3) In the absence of proof to the contrary, the debtor's registered office, or habitual residence in the case of an individual, is presumed to be the centre of the debtor's main interests.

    • Article 17. Decision to recognise a foreign proceeding

      (1) Subject to Article 6, a foreign proceeding shall be recognised if —
      (a) the foreign proceeding is a proceeding within the meaning of sub-paragraph (a) of Article 2;
      (b) the foreign representative applying for recognition is a person or body within the meaning of sub-paragraph (d) of Article 2;
      (c) the application meets the requirements of paragraph (2) of Article 15; and
      (d) the application has been submitted to the Court referred to in Article 4.
      (2) The foreign proceeding shall be recognised —
      (a) as a foreign main proceeding if it is taking place in the State where the debtor has the centre of its main interests; or
      (b) as a foreign non-main proceeding if the debtor has an establishment within the meaning of sub-paragraph (f) of Article 2 in the foreign State.
      (3) An application for recognition of a foreign proceeding shall be decided upon at the earliest possible time.
      (4) The provisions of Articles 15 to 16, this Article and Article 18 do not prevent modification or termination of recognition if it is shown that the grounds for granting it were fully or partially lacking or have ceased to exist.

    • Article 18. Subsequent information

      From the time of filing the application for recognition of the foreign proceeding, the foreign representative shall inform the Court promptly of —

      (a) any substantial change in the status of the recognised foreign proceeding or the status of the foreign representative's appointment; and
      (b) any other foreign proceeding or proceeding under these Regulations regarding the same debtor that becomes known to the foreign representative.

    • Article 19. Relief that may be granted upon application for recognition of a foreign proceeding

      (1) From the time of filing an application for recognition until the application is decided upon, the Court may, at the request of the foreign representative, where relief is urgently needed to protect the assets of the debtor or the interests of the creditors, grant relief of a provisional nature, including —
      (a) staying execution against the debtor's assets;
      (b) entrusting the administration or realization of all or part of the debtor's assets located in the Abu Dhabi Global Market to the foreign representative or another person designated by the Court, in order to protect and preserve the value of assets that, by their nature or because of other circumstances, are perishable, susceptible to devaluation or otherwise in jeopardy; or
      (c) any relief mentioned in paragraph (1)(c), (d) and (g) of Article 21.
      (2) Unless extended under paragraph (1)(f) of Article 21, the relief granted under this Article terminates when the application for recognition is decided upon.
      (3) The Court may refuse to grant relief under this Article if such relief would interfere with the administration of a foreign main proceeding.

    • Article 20. Effects of recognition of a foreign main proceeding

      (1) Upon recognition of a foreign proceeding that is a foreign main proceeding —
      (a) commencement or continuation of individual actions or individual proceedings concerning the debtor's assets, rights, obligations or liabilities is stayed;
      (b) execution against the debtor's assets is stayed; and
      (c) the right to transfer, encumber or otherwise dispose of any assets of the debtor is suspended.
      (2) The stay and suspension referred to in paragraph (1) of this Article shall be —
      (a) the same in scope and effect as if the debtor had been made the subject of a winding-up order under these Regulations; and
      (b) subject to the same powers of the Court and the same prohibitions, limitations, exceptions and conditions as would apply under these Regulations in such a case, and the provisions of paragraph (1) of this Article shall be interpreted accordingly.
      (3) Paragraph (1)(a) of this Article does not affect the right to commence individual actions or proceedings to the extent necessary to preserve a claim against the debtor.
      (4) Paragraph (1) of this Article does not affect the right to request or otherwise initiate the commencement of a proceeding under these Regulations or the right to file claims in such a proceeding.

    • Article 21. Relief that may be granted upon recognition of a foreign proceeding

      (1) Upon recognition of a foreign proceeding, 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 actions or individual proceedings concerning the debtor's assets, rights, obligations or liabilities, to the extent they have not been stayed under paragraph (1)(a) of Article 20;
      (b) staying execution against the debtor's assets to the extent it has not been stayed under paragraph (1)(b) of Article 20;
      (c) suspending the right to transfer, encumber or otherwise dispose of any assets of the debtor to the extent this right has not been suspended under paragraph (1)(c) of Article 20;
      (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 Abu Dhabi Global Market to the foreign representative or another person designated by the Court;
      (f) extending relief granted under paragraph (1) of Article 19; or
      (g) granting any additional relief that may be available to it under the laws of the Abu Dhabi Global Market.
      (2) Upon recognition of a foreign proceeding, 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 Abu Dhabi Global Market to the foreign representative or another person designated by the Court, provided that the Court is satisfied that the interests of creditors in the Abu Dhabi Global Market are adequately protected.
      (3) In granting relief under this Article to a representative of a foreign non-main proceeding, the Court must be satisfied that the relief relates to assets that, under the law of the Abu Dhabi Global Market, should be administered in the foreign non-main proceeding or concerns information required in that proceeding.

    • Article 22. Protection of creditors and other interested persons

      (1) In granting or denying relief under Article 19 or 21, or in modifying or terminating relief under paragraph (3) of this Article, the Court must be satisfied that the interests of the creditors and other interested persons, including the debtor, are adequately protected.
      (2) The Court may subject relief granted under Article 19 or 21 to conditions it considers appropriate.
      (3) The Court may, at the request of the foreign representative or a person affected by relief granted under Article 19 or 21, or at its own motion, modify or terminate such relief.

    • Article 23. Actions to avoid acts detrimental to creditors

      (1) 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 Chapter 3 (Voidable Transactions) of Part 4 (Protection of Assets in Liquidation and Administration) of these Regulations.
      (2) When the foreign proceeding is a foreign non-main proceeding, the Court must be satisfied that the action relates to assets that, under the law of the Abu Dhabi Global Market, should be administered in the foreign non-main proceeding.
      (3) At any time when a proceeding under these Regulations is taking place regarding the debtor, the foreign representative shall not make an application under this Article except with the permission of the Court.

    • Article 24. Intervention by a foreign representative in proceedings in the Abu Dhabi Global Market

      Upon recognition of a foreign proceeding, the foreign representative may, provided the requirements of the law of the Abu Dhabi Global Market are met, intervene in any proceedings in which the debtor is a party.