Where a creditor has received payment of a dividend on the assets of one or more co-guarantors
against whom receivership or liquidation has been ordered, the latter shall have no action against
the others, save where the totality of the dividends generated by the said proceedings exceeds
the total amount of the principal and incidentals thereof; in this case, the excess shall be
attributed, according to the order of those obligations, to those co-obligors who have other co-
obligors as guarantors and, where there is no order, the assets shall be distributed pro rata
amongst them.
Official translation
Spot-checked
In force from 10 April 1998
Source page 35