The conciliator shall send regular progress reports on his mission to the president of the competent court and formulate constructive observations. If it occurs to him that the debtor becomes insolvent, he shall immediately inform the president of the competent court.
In the event of default, the debtor shall immediately inform the president of the competent court.
At any time, if he is informed of the occurrence of the insolvency under the conditions provided for in the previous two paragraphs or by any other means, the president of the competent court shall forthwith terminate the conciliation and the conciliator’s mandate after hearing the debtor and the conciliator.
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Transcription: Spot-checked
In force from 24-12-2015
Source page 20
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 5-6 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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