When foreclosure proceedings or extrajudicial execution undertaken before the opening of the reorganization or assets liquidation proceedings has been stayed due to the effect of the latter, the trustee’s rights may be subrogated to the rights of the execution creditor for the acts he carried out.
These acts shall be deemed completed for the trustee who may proceed with the sale of the
property. Repossession or extrajudicial execution can then resume its course when the opening
of bankruptcy proceedings decision had stayed it.
Paragraph 3:Special provisions governing the sale of property by amicable tendering
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 95
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 154-1 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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