Section 3: Section 3: Recognition of a non-QFC Proceeding and Relief
Article 163 - Application for recognition of a non-QFC proceeding
(1) A non-QFC representative may apply to theQFC Court for recognition of the non-QFC proceeding in which the non-QFC representative has been appointed.(2) An application for recognition shall be accompanied by:(A) a certificate from the court affirming the existence of the non-QFC proceeding and of the appointment of the non-QFC representative; or(B) in the absence of evidence referred to in Articles 163(2)(A), any other evidence acceptable to theQFC Court of the existence of the non-QFC proceeding and of the appointment of the non-QFC representative.(3) An application for recognition shall also be accompanied by a statement identifying all non-QFC proceedings in respect of theCompany that are known to the non-QFC representative.(4) TheQFC Court may require a translation of documents supplied in support of the application for recognition into English.Article 164 - Presumptions concerning recognition
(1) TheQFC Court is entitled to presume that documents submitted in support of the application for recognition are authentic, whether or not they have been legalised.(2) In the absence of proof to the contrary, theCompany's registered office is presumed to be theCompany's centre of main interests.Article 165 - Decision to recognise a non-QFC proceeding
(1) Subject to Article 155, a non-QFC proceeding shall be recognised if:(A) the non-QFC proceeding is a proceeding within the meaning of Article 151(1);(B) the non-QFC representative applying for recognition is a person or body within the meaning of Article 151(4);(C) the application meets the requirements of Article 163(2); and(D) the application has been submitted to theQFC Court .(2) The non-QFC proceeding shall be recognised:(A) as a non-QFC main proceeding if it is taking place in the state where theCompany has the centre of its main interests; or(B) as a non-QFC non-main proceeding if theCompany has an establishment within the meaning of Article 151(5) outside theQFC .(3) An application for recognition of a non-QFC proceeding shall be decided upon at the earliest possible time.Article 166 - Subsequent information
From the time of filing the application for recognition of the non-
QFC proceeding, the non-QFC representative shall inform theQFC Court promptly of:(1) any substantial change in the status of the recognised non-QFC proceeding or the status of the non-QFC representative's appointment; and(2) any other non-QFC proceeding regarding the sameCompany that becomes known to the non-QFC representative.Article 167 - Relief that may be granted upon application for recognition of a non-QFC proceeding
(1) From the time of filing an application for recognition until the application is decided upon, theQFC Court may, at the request of the non-QFC representative, where relief is urgently needed to protect the assets of theCompany or the interests of the creditors, grant relief of a provisional nature, including:(A) staying execution against theCompany's assets;(B) entrusting the administration or realisation of all or part of theCompany's assets located in theQFC to the non-QFC representative or another person designated by theQFC 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; and(C) any relief mentioned in Article 168(1)(C), (D) and (G).(2) Unless extended under Article 168(1)(F), the relief granted under this Article terminates when the application for recognition is decided upon.(3) TheQFC Court may refuse to grant relief under this Article 167 if such relief would interfere with the administration of a non-QFC main proceeding.Article 168 - Relief that may be granted upon recognition of a non-QFC proceeding
(1) Upon recognition of a non-QFC proceeding, whether main or non-main, where necessary to protect the assets of theCompany or the interests of the creditors, theQFC Court may, at the request of the non-QFC representative, grant any appropriate relief, including:(A) staying the commencement or continuation of individual actions or individual proceedings concerning theCompany's assets, rights, obligations or liabilities;(B) staying execution against theCompany's assets to the extent it has not been stayed;(C) suspending the right to transfer, encumber or otherwise dispose of any assets of theCompany ;(D) providing for the examination of witnesses, the taking of evidence or the delivery of information concerning theCompany's assets, affairs, rights, obligations or liabilities;(E) entrusting the administration or realisation of all or part of theCompany's assets located in theQFC to the non-QFC representative or another person designated by theQFC Court ;(F) extending relief granted under Article 167(1); and(G) granting any additional relief that may be available to anAdministrator ,Supervisor orLiquidator under the laws of theQFC .(2) Upon recognition of a non-QFC proceeding, whether main or non-main, theQFC Court may, at the request of the non-QFC representative, entrust the distribution of all or part of theCompany's assets located in theQFC to the non-QFC representative or another person designated by theQFC Court , provided that theQFC Court is satisfied that the interests of creditors in theQFC are adequately protected.(3) In granting relief under this Article to a representative of a non-QFC non-main proceeding, theQFC Court must be satisfied that the relief relates to assets that, under theseRegulations , should be administered in the non-QFC non-main proceeding or concerns information required in that proceeding.Article 169 - Protection of creditors and other interested persons
(1) In granting or denying relief under Article 167 or 168, or in modifying or terminating relief under Article 169(3), theQFC Court must be satisfied that the interests of the creditors and other interested persons, including theCompany , are adequately protected.(2) TheQFC Court may subject relief granted under Article 167 or 168 to conditions it considers appropriate.(3) TheQFC Court may, at the request of the non-QFC representative or a person affected by relief granted under Article 167 or 168, or at its own motion, modify or terminate such relief.Article 170 - Actions to avoid acts detrimental to creditors
(1) Upon recognition of a non-QFC proceeding, the non-QFC representative has standing to initiate administration orLiquidation (whether voluntary or compulsory).(2) When the non-QFC proceeding is a non-QFC non-main proceeding, theQFC Court must be satisfied that the action relates to assets that, under the law of theQFC , should be administered in the non-QFC non-main proceeding.Article 171 - Intervention by a non-QFC representative in proceedings in the QFC
Upon recognition of a non-
QFC proceeding, the non-QFC representative may, provided the requirements of theseRegulations are met, intervene in any proceedings in which theCompany is a party.