The competent court which intends to pronounce a simplified liquidation of assets shall state in
its decision:
-
the nature of “small enterprise” of the debtor in accordance with the definition of Article
1-3 above;
-
And the lack of immovable assets.
The competent court shall reserve the option to refuse the simplified procedure of liquidation of
assets despite all the conditions being met.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 104
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 179-4 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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