The recognition of the effects of bankruptcy proceedings open by the competent court of a State Party in accordance with this Uniform actshall not preclude the opening of another bankruptcy proceedings, including a secondary proceedingsbythe competent court of another State party insofar as the opening request complies with all requirements of this Uniform act.
Effects of the main bankruptcy proceedings, as defined in article 1-3 above shall apply to all the assets of the debtor located in the territory of States Parties.
Effects of a secondary bankruptcy proceedings, as defined in article 1-3 above shall be limited to the assets of the debtor located in the territory of the State Party in which such proceedingsis open.
Effects of a territorial bankruptcy proceedings, as defined in article 1-3 above shall also be limited to the assets of the debtor located in the territory of the State Party in which such proceedingsis open.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 125
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 251 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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