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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.