Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 0 › Section 2

SECTION 71

The non-binding effect of an act may only be pleaded by the body of creditors. (1) The body of creditors shall be collocated with a creditor whose security has been declared non-binding. (2) Any gratuitous transfer declared non-binding shall have no effect where it has not been executed. Where the transfer has been executed, the transferee of the property shall return it. Same shall be for a gratuitous sub-transfer. The sub-transferee, even where he is of good faith, shall not be allowed to plead the transfer. He shall return the property so transferred or pay its value, except where the property has disappeared from his estate due to circumstances beyond his control. In the case of a sub-transfer for valuable consideration, the sub-transferee shall not be bound to return the property or pay its value except where, at the time he purchased the property, he had knowledge of the insolvency of the debtor. However, the principal beneficiary of the gratuitous transfer shall be bound to pay the value of the property where the sub-transferee cannot or is not required to return the property. (3) Any payment declared non-binding shall be returned by the creditor and shall be added to the debts of the debtor. (4) The unbalanced commutative contract declared non-binding may no longer be executed. Where it has been executed, the creditor may only add to the debts of the debtor the true value of the service provided. (5) Transfers carried out for valuable consideration declared non- binding shall have no effect where they have not been executed. In the case where a transfer has been made, the transferee shall return the property and add his claim to the debts of the debtor; where there has been a gratuitous sub-transfer, the sub-transferee shall be bound to return the property without recourse against the body of creditors; where there has been a sub-transfer for valuable consideration, the sub-transferee shall be bound to return the property and add his claim to the debts of the debtor where, at the time he purchased the property, he had knowledge of the non-binding nature of the act of the debtor. Where the debtor has received all or part of the service of the co-contracting party which cannot be restored in kind, the creditor shall add the value of the service provided to the debts of the debtor.
Official translation Spot-checked In force from 10 April 1998 Source page 28

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Texte français

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Contents

Section 71 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/undated/aupcap-1998
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