Where a trader who is insolvent dies, the matter shall be referred to the competent court within
the time limit of one year following his death, either by declaration of an heir or upon the
summons of a creditor.
The competent court may on its own motion decide to examine the matter within the same time
limit the known heir(s) of the debtor having been heard or duly summoned. In this case, the
procedure stipulated under Article 29 above shall be applicable.
Where the matter is brought before the competent court by the heirs, they shall submit a
declaration that payments have been suspended and deposit a composition proposal under the
conditions laid down in Articles 25, 26 and 27 above.
Where the matter is brought before the competent court on the application of the creditors, the
provisions of Article 28 above shall be applicable.
Official translation
Spot-checked
In force from 10 April 1998
Source page 16