Paragraph 5
Where a foreign proceeding regarding a debtor who is an insured in accordance with the provisions of the F1Third Parties (Rights against Insurers) Act 2010 is recognised under this Law, any stay and suspension referred to in article 20(1) and any relief granted by the court under article 19 or 21 shall not apply to or affect—
(a)
any transfer of rights of the debtor under that Act; or
(b)
any claim, action, cause or proceeding by a third party against an insurer under or in respect of rights of the debtor transferred under that Act.
Annotations
Textual amendments
- F1
Words in Sch. 1 para. 5 substituted (1.8.2016) by Third Parties (Rights against Insurers) Act 2010 (c. 10), s. 21(2), Sch. 2 para. 4 (with s. 15); S.I. 2016/550, art. 2