The decision to liquidate assets of a legal entity shall entail the automatic dissolution thereof.
The liquidation of assets proceedings shall entail, as a matter of law, until the closing of the
proceeding, an automatic divesture of the debtor, from the commencement to the close, of the
administration and disposal of known assets and those that can be thereafter acquired by any
means whatsoever. All acts taken in violation of this provision, with the exception of
conservatory acts with the exception of conservatory acts, shall be unenforceable against third
parties.
P. 52 of 139
Acts, rights and actions of the debtor concerning his estate shall be performed or exercised for
the entire duration of assets liquidation by the trustee acting alone and representing the debtor.
If the trustee declines to perform an act or to exercise a right or a claim related to the estate of the
debtor, the latter and the top executives of the legal entity or the controllers, where one was
appointed, may compel him to act following a decision of the receiver obtained under the
conditions set forth in articles 40 and 42, paragraphs 2 and 3 above.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 51
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 53 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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