Proceeds obtained from the sale of real property shall be distributed in the following order:
1) To creditors owed statutory costs incurred in the realization of the real property sold and in the distribution itself of the proceeds;
2) To creditors of super privileged wages;
3) To creditors who have a conventional or forcible mortgage, and to separate creditors who are registered in the land publication register within the legal deadline, each according to the rank of his registration;
4) To creditors with a general privilege which is subjected to publication, each according to the rank of his registration in the Trade and Personal Property;
5) To creditors with a general privilege which is not subjected to publication in accordance with the order laid down by article 180 of this Uniform Act;
6) To unsecured creditors with a writ of execution issued in their favour when they intervened in attachment proceedings or objected to the procedure.
Where the funds to pay the creditors of the same rank mentioned in 1, 2, 5 and 6 of this article
are inadequate, the funds shall be distributed in proportion to their total claims and on a pro-
rata basis.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 51
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →
Section 225 of the Acte uniforme révisé portant organisation des sûretés/akn/ohada/act/loi/2010-12-15/aus-2010
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