It was pointed out that the consequences of the violation of a statutory suspension of transfers varied greatly in different legal systems.

Therefore, it was suggested that the suspension of transfers of assets should not apply to transfers that occurred in the ordinary course of business, so as not to jeopardize the financial viability of the debtor apos s establishment in the enacting State.

The Working Group considered the question of possible sanctions that might apply to acts performed in defiance of the suspension of transfers of assets provided under article 16 (1) (b).

The suspension of transfers is necessary because in the modern, globalized economic system it is possible for multi national debtors to move money and property across boundaries quickly.

Thus, it was argued, the representative of a non main proceeding should not be able to obtain relief covered by subparagraphs (a) and (b) (stay of actions and suspension of transfers of assets).

It would not be feasible for the Model Provisions to deal with sanctions that might apply to acts performed in defiance of the suspension of transfers of assets provided under paragraph 16(1)(b).

Method of suspension

Suspension of auctions

Suspension of consultative status

Suspension of voting rights,

Suspension

Suspension

Suspension.

Article Suspension of limitation period

Suspension or adjournment of meetings

Suspension or adjournment of meetings

E. Length of treaty suspension

Suspension 126

Suspension inhibited

(f) Suspension

6320 Suspension of issuance of licences

Transfers

Transfers

Suspension or adjournment of the meeting

SUSPENSION AND WITHDRAWAL OF CONSULTATIVE STATUS

The result of the vote was 50 in favour of suspension to 87 against a suspension, with 1 abstention.

It was pointed out that, if included in the text, a provision on sanctions for the violation of the suspension of transfers of assets would need to be supplemented with exceptions, as provided in a number of legal systems, to protect the interests of third parties who in good faith acquired assets from an insolvent debtor without knowledge of the suspension of transfer of assets.

Roebling Suspension Bridge

Complete prohibition of transfers of anti personnel mines and the removal of any profit motives behind such transfers

Funds transfers

Migrants' transfers

Failed Transfers

Incoming Transfers

Outgoing Transfers

Export Transfers

KGet transfers

Other Transfers

Include transfers

District transfers

4. Transfers

Assessment of the impact of suspension of recruitment

The concern was expressed that an unqualified suspension of transfers of assets, as currently provided in paragraph (1) (b), might paralyse all transactions of the debtor in the enacting State, thus forcing the debtor apos s establishment in that State into insolvency.

Draft decision II Suspension of consultative status

Suspension or adjournment of meetings 15 38.

Suspension or adjournment of meetings 38 45.