No. 7/2018 INSOLVENCY Cap.6:07 "foreign non main proceedings" means foreign proceedings. other than foreign main proceedings, taking place in a State where the debtor has an establishment: "foreign proceedings" means collective judicial or administrative proceedings in a foreign State, inc! uding interim proceedings, pursuant to a lm\ relating to insolvency in which proceedings the assets and affairs of the debtor are subject to control or supervision by a foreign Court, for the purpose of reorganisation or liquidation; "foreign representative" means a person or body, including one appointed on an interim basis, authorised in foreign proceedings to administer the reorganisation or the liquidation of the debtor's assets or affairs or to act as a representative of the foreign proceedings; "foreign State" means a State not designated under section 152(2): "Minister" means the Cabinet member responsible for the administration of justice; "receiver" means a receiver or other person appointed to administer a compromise or arrangement sanctioned by a Court. 151 Purpose of Part The purpose of this Part is to provide effective mechanisms for dealing with cases of cross border insolvency so as to promote(a) co-operation between the Courts and other competent authorities of Zimbabwe and those of foreign States involved in cases of cross border insolvency; (b) greater legal certainty for trade and investment; (c) fair and efficient administration of cross border insolvencies that protects the interests of all creditors and other interested persons, including the debtor; (d) protection and maximisation of the value of the debtor's assets; (e) facilitation of the rescue of financially troubled businesses, thereby protecting investment and preserving employment. 152 Scope of application ( 1) This Part applies where- (a) assistance is sought in Zimbabwe by a foreign Court or a foreign representative in connection with foreign proceedings; or (b) assistance is sought in a foreign State in connection \Vith proceedings under the lmvs of Zimbabwe relating to insolvency; or (c) foreign proceedings and proceedings under the laws of Zimbabwe relating to insolvency in respect of the same debtor arc taking place concurrently; or (d) creditors or other interested persons in a foreign State have an interest in requesting the commencement of, or participating in, proceedings under the laws of Zimbabwe relating to insolvency. (2) Subject to paragraph (b), this Part applies in respect of any State not designated by the Minister by notice in the Gazette. (3) The Minister may designate a State if he or she is satisfied that the recognition accorded by the law of such a State to proceedings under the laws of Zimbabwe relating to insolvency does not justify the application of this Part to foreign proceedings in that State. 312

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