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Event related to insolvency
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An event relating to insolvency - i) the commencement of insolvency proceedings or ii) the declared intention by the debtor to suspend payments or the actual suspension of payments by the debtor, if the creditor's right to initiate insolvency proceedings against the debtor or to exercise remedies provided for under the Convention is suspended or cannot be exercised pursuant to law or as a result of an action by the state1.
Convention on International Interests in Mobile Equipment, as amended on 2011-09-05, art. I. ↩
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