Where a creditor who holds obligations to which are subscribed jointly and severally a debtor
against whom receivership or liquidation proceedings have been ordered and some co-obligors
has received an advance on his claims before the suspension of payments, the claim he shall
produce before the body of creditors shall be the amount due after deduction of the said advance.
He shall retain his rights on the balance due him against a co-obligor or guarantor.
A co-obligor or a guarantor who has made a partial payment shall be included in the same body
of creditors for all that he has paid and the portion that was to be borne by the debtor.
Official translation
Spot-checked
In force from 10 April 1998
Source page 34