Third parties, be creditors or not, who, due to their wrong doings, contributed to delay the insolvency, to reduce assets or to worsen liabilities of the debtor may be ordered to make good losses suffered by the body of creditors by a suit filed by the trustee acting in the common interest of the creditors.
The competent court shall, to make good the losses suffered, choose the most appropriate solution, either authorizing payment of damages or forfeiture of their securities for creditors who hold such collateralsecurities.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 77
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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Section 118 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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