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Part 12 · International insolvency law  ›  Division 2 · Foreign insolvency proceedings › Section 350

Performance in debtor’s favour

If the debtor received performance on domestic territory to settle an obligation although such obligation had to be performed to the credit of the insolvency estate of the foreign insolvency proceedings, the performing party is discharged of this obligation if that party was unaware of the opening of the proceedings at the time of performance. If such party performed the obligation prior to publication in accordance with section 345, that part is presumed to have been unaware of the opening of the proceedings.

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