Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 0 › Chapter 5 › Section 2

SECTION 167

Without prejudice to a potential right of retention or exclusive right on the payment, proceeds from the sale of movable property shall be distributed as follows: 1) to creditors with privilege provided for in articles 5-11, 11-1 and 33-1 above; 2) to creditors with court fees incurred for the purpose of the realization of a sold asset and the distribution of proceeds; 3) to creditors with charges for the preservation of the property of the debtor in the interests of the creditor whose securities were subscribed at an earlier date; 4) to creditors with super priority salaries in proportion of the value of the property compared to the entire estate; 5) to creditors guaranteed by a general privilege subject to publicity, pledge or suretyship, each according to the date of enforceability against third parties; 6) to creditors with a special property lien, each according to the property to which the lien is attached; 7) to creditors of the union as defined in article 117 above; 8) to creditors with a general privilege according to the order established in the Uniform act on Security Interests; 9) to unsecured creditors with an enforceable title; 10) to unsecured creditors devoid of an enforceable title. Where funds are insufficient to fully pay off the creditors of any of the categories mentioned in1°, 2°, 3°, 4 °, 7° ,8° and 9o of this Article and the said creditors have equal rank, the funds shall be distributed proportionately to their total debts on a pro rata basis.
Unofficial translation Spot-checked In force from 10 September 2015 Source page 99

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Texte français

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Refers to

Contents

Section 167 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/undated/aupcap-2015
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