Cap. 6:07
iNSOLVENCY
No. 7/2018
(i) any relief in effect under section 159 or 160 must be reviewed by
the Court and must be modified or terminated if inconsistent with
the proceedings in Zimbabwe; and
(ii)
if the foreign proceedings are foreign main proceedings, the stay
and suspension referred to in section 160(1) must be modified
or terminated in terms of section 161(2) if inconsistent \Vith the
proceedings in Zimbabwe;
(2) In granting relief or in extending or modifying relief granted to a
representati\·e of foreign non main proceedings, the Court must be satisfied that the
relief relates to assets that, under the Ia\\' of Zimbabwe, should be administered in the
foreign non main proceedings or concerns information required in those proceedings.
180 Coordination of foreign proceedings
In matters referred to in section 141 (I). in respect of more than one set of
foreign proceedings regarding the same debtor, the Court must seek cooperation and
coordination under sections 165, 166 and 167, and(a)
any relief granted under section 159 or 161 to a representati \'e of foreign
non main proceedings after recognition of foreign main proceedings must
be consistent with the foreign main proceedings;
(b)
if foreign main proceedings are recognised after recognition, or after the
filing of an application for recognition of foreign non main proceedings,
any relief in effect under section 160 or 162 must be reviewed by the
Court and must be modified or terminated if inconsistent with the foreign
main proceedings;
(c)
if, after recognition of foreign non main proceedings, other foreign
non main proceedings are recognised, the Court must grant, modify
or terminate relief for the purpose of facilitating coordination of the
proceedings.
181 Presumption of insolvency based on recognition of foreign main
proceedings
In the absence of sufficient eYidence to the contrary, recognition of foreign
main proceedings are, for the purpose of commencing proceedings under the laws of
Zimbabwe relating to insolvency, proof that the debtor is insolvent.
182 Rule of payment in concurrent proceedings
Without prejudice to secured claims or rights in rem, a creditor who has received
part payment in respect of his or her claim in proceedings in terms of a law relating
to insolvency in a foreign State may not receive a payment for the same claim in
proceedings under the laws of Zimbabwe relating to insolvency regarding the same
debtor, so long as the payment to the other creditors of the same class is proportionately
less than the payment that the creditor has already received.
PART XXVI
GENERAL PROVISIONS
183 Court may stay or set aside liquidation
(l) The Court may at any time after the commencement of the liquidation
of a debtor on the application of any liquidator, creditor, trustee or shareholder or
member, make an order staying or setting aside the proceedings or for the continuance
of any voluntary liquidation on such terms and conditions as the Court may consider
appropriate.
319
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