Sales by auction may be carried out without the service of a legal counsel.
P. 96 of 139 Failure to recoup the amount of the upset price during the public auction, the notary shall record the highest bid and may award the property provisionally for the amount of such bid. The receiver who fixed the upset price, to whom the matter is brought at the request of the notary or any interested party, may either declare the award final and the sale completed, or he may order that a new sale take place pursuant to terms provided for in article 150 above. Where the new sale is an auction, he shall prescribe the time limit for the new sale without such time being less than fifteen (15) days, the upset price and the terms and conditions of publication.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 95
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 156 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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