Where the creditor holder of commitments jointly and severally subscribed by the debtor and other joint debtors in a situation of reorganization or assets liquidation has received an advance on his claim before the decision to open the proceedings, he shall be included in the union of creditors only after deduction of such payment and shall retain, on the balance due to him, his rights against the joint debtor or guarantor.
A joint debtor or the advance applied as partial payment shall be included in the same union for all he has paid and what was to be borne by the debtor.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 66
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 92 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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