Where, before the termination or annulment of the composition, the debtor has paid no dividends,
the remissions granted in the composition agreement shall be nullified and creditors admitted
before the agreement shall recover all their rights.
Where the debtor has already paid part of the dividends, creditors registered before the
composition may claim, against the new creditors only part of their original claims which
corresponds to the share of the promised dividend which they did not receive.
A holder of a claim against the first body of creditors shall not lose his preferential rights with
regard to the creditors who make up the said body.
Official translation
Spot-checked
In force from 10 April 1998
Source page 49