Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 0 › Chapter 5 › Section 1

SECTION 133

The total or partial asset assignment price shall be paid into the debtor's assets. When the assigned package is encumbered by a special security, the assignment entails the sale of the security only in case of full payment and relief of a secured creditor. The buyer shall not assign, under penalty of nullity, items of the assets purchased, with the exception of goods insofar as payment is not received in full. The non-disposal of such items shall be published in the Registry of Commerce and Securities under the same conditions set forth for the privilege of the seller of trade negotiables and the land register in accordance with the provisions on land registration for immovable components. The preference right of creditors with special securities rights on the price of assigned goods shall be exercised in the order provided for in articles 166 and 167 hereinafter. In the event of failure to pay the full price, the debtor may petition the receiver to cancel the assignment or to implement the collateral security provided for in article 132 (2) above. Sub-section 3: Effects and execution of the composition
Unofficial translation Spot-checked In force from 10 September 2015 Source page 85

Spot-checked against the official gazette — not yet verified line by line. How Lex Cameroon marks its texts →

A question about this section?

Enter to send · Shift+Enter for a new line

Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Cited by

Refers to

Contents

Section 133 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/undated/aupcap-2015
Report an error in this text