Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 7 › Chapter 2 › Section 3

SECTION 256-18

Today
Between the date of the submission of an application for recognition of the foreign bankruptcy proceedings before the competent court and the date on which the recognition is decided, when there is an urgent need to take measures to protect the assets of the debtor or the interests of creditors, the competent court may take, at the request of the foreign representative, the following provisional measures: - prohibit or stay measures of execution against the debtor's assets, including any extrajudicial execution; - entrust the administration or realization of all or part of the debtor's assets located in the territory of the competent court to the foreign representative or a trustee appointed by the latter, in order to protect and preserve the value of these assets when, by their nature or because of other circumstances, they are perishable, susceptible to depreciation or otherwise under threats; - Grant all measures referred to in points 3 °, 4 ° and 7 ° of the first paragraph of Article 256-20 hereinafter. Unless extended pursuant to point 6 ° of the first paragraph of Article 256-20 hereinafter, measures granted pursuant to this Article shall cease as soon as a ruling is pronounced on the application for recognition of the foreign bankruptcy proceedings. The competent court may refuse to grant measures referred to in this Article if they are that may hinder the administration of the main foreign bankruptcy proceedings.
Unofficial translation Transcription: Spot-checked In force from 24-12-2015 Source page 133

The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision. How Lex Cameroon marks its texts →

International bankruptcy proceedings Recognition of bankruptcy proceedings open outside ohada space Recognition of foreign bankruptcy proceedings and available measures

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ARTICLE 256-18

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Section 256-18 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/2015-09-10/aupcap-2015
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