Secondary bankruptcy proceedings may be closed by a arrangementor a reorganizationorassets liquidation compositiononly afterthetrustee of the main bankruptcy proceedings gives his consent.
Such consent shall be given within thirty (30) days effective on the date of receipt of the request for notification made by the trustee of the secondary bankruptcy proceedings by hand-delivered letter against a receipt or by registered mail with acknowledgment of receipt or by any means leaving a written record.
If the trustee of the main bankruptcy proceedings remains silentfor thirty (30) days, the silence shall be deemed to be consent.
The trustee of the main bankruptcy proceedings may decline to give his consent only where he establishes that the solution proposed jeopardizes the financial interests of the creditors of the proceedings for which he is appointed.
In case of disputes, the competent court shall rule in the same manner as in arrangement or reorganization or assets liquidation composition to close the secondary bankruptcy proceedings.
P. 127 of 139
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 126
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 254 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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