Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 0 › Chapter 1

SECTION 27

As the statement provided for in article 25 above or, later on, within sixty (60) days following the opening decision of reorganization, the debtor shall file a drat composition. Such proposed shall demonstrate judicial reorganization prospects of the debtor company with respect to business opportunities and activities, the market status and available financing resources; it shall as well specify envisioned measures and conditions for its restructuring namely: - requisites for enabling the financial and economic viability of the debtor company; - terms for continuing the company business activities such as the request for time extensions and debt reduction, partial assignment of assets with a specific indication of assets to be assigned; assignment or lease-management of a branch of activity forming business assets; assignment or lease-management of part or the entire company, without these terms being restrictive and exclusive on each other; - the full names, titles and addresses of individuals mandated to execute the composition and all their undertakings for restructuring the company; - terms for maintaining and financing the company, settlement of claims contracted prior to the decision to open the reorganization as well as, where applicable, collateralsecurities provided to ensure execution; these undertakings and collateralsecurities may consist, inter alia, of subscriptions for an increase of share capital by new or former partners, debt-for-equity swaps, appropriations by banking or financial institutions or by any other person, including any new cash or service contributions under the conditions set forth in
Unofficial translation Spot-checked In force from 10 September 2015 Source page 39

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Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Refers to

Contents

Section 27 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/undated/aupcap-2015
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