Section 14 - Moratorium.

Moratorium on creditor actions bars suits and asset enforcement during corporate insolvency, subject to limited statutory exceptions.

A moratorium commences on the insolvency commencement date, prohibiting suits, enforcement of judgments, asset transfers, foreclosure or recovery of property by owners where occupied by the corporate debtor, and restraining enforcement of security interests. Licences and similar statutory grants are not suspended if current dues for their use are paid. Supply of essential goods or services shall not be interrupted during the moratorium, and critical supplies identified by the resolution professional continue unless dues are unpaid. Certain notified transactions and a surety in a guarantee are excluded. The moratorium lasts until completion of the corporate insolvency resolution process or until approval of a resolution plan or liquidation.