When the proposed judicial composition provides for a change of share capital, the trustee shall ask the board of directors of the debtor legal entity, the president of the simplified public limited company and its top executives, as the case may be, to convene the extraordinary general meeting or shareholders’ meeting. If the convening notice is not sent within fifteen (15) days following the request of the trustee, the latter shall convene the meeting.
Commitments made by shareholders or partners or by new subscribers shall be subordinate in their execution to the confirmation of the judicial composition by the competent court.
Shareholders or partners who contribute to the share capital increase provided in the proposed judicial composition may be eligible for compensation up to the amount of their approved claims and within the limits of reductions to which they are subject in the proposed.
The clauses of approval shall be deemed to be unenforceable.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 78
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 119-2 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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