Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 2 › Chapter 5 › Section 2

SECTION 149

Today
Where authorized by the receiver, the trustee may, when reimbursing the debt, withdraw for the benefit of the union, the pledge, collateral security or contractual retention charge formed on a debtor's asset. P. 93 of 139 Where,withinthree (3) months following the assets liquidation judgment, the trustee has not withdrawn the pledge or collateral security or initiated the sale of the pledge or collateral security, the pledgee or secured creditor may exercise or recover his right to individual lawsuit and shall report to the trustee thereon. The Public Treasury, customs services and security and social insurance agencies shall have the same right to recover their preferential claims, which they shall exercise under the same conditions as the pledgees and secured creditors. Paragraph 1: Common provisions for the sale of immovable assets
Unofficial translation Transcription: Spot-checked In force from 24-12-2015 Source page 92

The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision. How Lex Cameroon marks its texts →

Assets liquidation solution Preventive procedures Solutions of reorganization and assets liquidation

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ARTICLE 149

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Section 149 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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