A vendor who intends to institute an action for cancellation shall give notice of such action
through an extrajudicial act or by any means in writing to the creditors registered in the Trade
and Personal Property Rights Register at the registered address of service of each of them.
He shall also ensure that his action for cancellation is preceded by application for an injunction
order in accordance with the provisions provided for that purpose in the Uniform Act on
securities.
The rescission shall be pronounced only by the competent court where the vendor of the business
is registered.
Any agreement for an amicable cancellation of the sale of business shall not be binding on
creditors registered at the initiative of the purchaser.
Official translation
Spot-checked
In force from 17 April 1997
Source page 42