Write a note on “Effect of recognition of a foreign main proceeding” under the UNCITRAL Model law.

Effect of recognition of a foreign main proceeding (Article 20) Once foreign proceeding is recognized which is a foreign main proceeding under the UNCITRAL Model Law, the following are the effects: Commencement or continuation of individual actions or individual proceedings concerning the debtor's assets, rights, obligations or liabilities is stayed; Execution against the debtor's assets is stayed; and The right to transfer, encumber or otherwise dispose of any assets of the debtor is suspended. The effects provided by Article 20 are not discretionary in nature. These flow automatically from recognition of the foreign main proceeding. The automatic effects under Article 21 apply only to main proceedings.