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
Transcription: Spot-checked
In force from 24-12-2015
Source page 85
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 133 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif/akn/ohada/act/loi/2015-09-10/aupcap-2015
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