SECTION 4-4

Appointed judicial administrators shall provide all collateralsecurities of independence, neutrality and impartiality in any bankruptcy proceedings. They shall not have or gain a personal, moral or financial interest from the mandate entrusted to them, except as expressly provided for in this Uniform act. Apart from the duties stipulated in this Uniform act, no judicial administrator may represent or advise one of the parties, either the debtor or his creditors in bankruptcy proceedings in which he is appointed. The following individuals may not be expert in preventive settlements or trustee in a bankruptcy procedure: 1) parents or relations of the debtor or creditors to the fourth degree inclusive, as well as top executives of the legal entity which is under bankruptcy proceedings; 2) the public accountant, lawyer, chartered accountant or auditor of the debtor or of one his creditors; 3) individuals who have previously had or currently have a dispute with the debtor or one of his creditors; 4) individuals who, during the three (03) years preceding their appointment, have received in any way whatsoever, directly or indirectly, compensation from the debtor or his creditors. 5) individuals who are subordinates or have economic ties with the debtor or one of his creditors. P. 12 of 139 When an individual is approached for a possible appointment as judicial administrator in bankruptcy proceedings, he shall disclose to the president of the competent court, without delay, any circumstance that may raise legitimate doubts about his independence, neutrality and impartiality under the incompatibilities set forth in this Article as well as those referred to in article 4-5 hereinafter. In this regard, any judicial administrator shall sign a declaration of independence, neutrality and impartiality before taking office in a bankruptcy procedure and shall undertake to assume full responsibility. Before taking office, the judicial administrator shall take the oath before the president of the designated court for that purpose and it shall be worded as follows: “I swear I will perform my mission with honor, conscience, honesty and probity, will observe the respect due to judges and public authorities, will always conform to applicable law and will invest all I can to achieve the objectives of my mission.”