The deed appointing the agent may provide for the conditions under which the agent may employ a third party to accomplish, under his responsibility, his mission. In that case, the creditor may take action directly against such third party.
The said deed may equally provide for conditions under which the agent may be replaced where he neglects his mission or where he puts into jeopardy the interests entrusted in him, or again, where collective proceedings have been instituted against him. In the absence of any contractual provisions to this effect, the creditormay, in the above-cited circumstances, pray the competent court to urgently appoint a temporary agent or have the agent replaced.
Where the agent is replaced either as a result of a contractual clause or by order of court, all the rights and all the shares he held on behalf of the creditor shall be transferred as of right and with no other formality to the new agent.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 8
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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