SECTION 174

Subject to the application of the last paragraph of Article 170 above, the decision to close due to insufficient assets shall not give creditors the opportunity to recover the individual right to file suits against the debtor, unless the debt is the result of a criminal conviction of the debtor or charges attached to the creditor as an individual. The guarantor of the debt of others or the joint debtor who paid in lieu and place of the debtor shall recover his right to file suit against the latter. As an exception, all creditors approved or not, shall recover their rights to sue: - in cases of judgment of personal bankruptcy of the debtor; - in case of conviction of a debtor in bankruptcy; - if the competent court finds fraud by the debtor with respect to one or more creditors; - if the debtor or the legal entity of which he was the top executive has been subjected to assets liquidation proceedings closed due to insufficient assets less than five (05) years before the opening of the one to which he is subjected now; - if the procedure is a liquidation of assets against the executive convicted in debt settlement; - If the bankruptcy proceedingshas been opened pursuant to Article 189 hereinafter. In the event of resumption of individual lawsuits, Article 171 shall apply to creditors admitted in the bankruptcy proceedings. For creditors not admitted or having not filed their claims, common law shall govern their action.