Lex Cameroon

Acte uniforme portant organisation des procédures collectives d'apurement du passif › Title 2 › Chapter 2 › Section 1

SECTION 7

The proposed arrangement shall stipulate measures envisioned for the restructuring of the company, including: - terms for continuing the company business 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 arrangement and all their undertakings for the restructuring of the company; - terms for maintaining and financing the company, settlement of claims contracted prior to the decision to open a preventive settlement 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 article 11-1 hereinafter as well as the amount of the contribution or the value of the goods or services; continuation of the execution of contracts entered into prior to the petition, provision of securities; - level and job prospects, as well as layoffs for economic reasons which should be exerted within the conditions set forth in the provisions of the Labor Law; - Replacement of top executives.
Unofficial translation Spot-checked In force from 10 September 2015 Source page 25

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Texte français

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Section 7 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif /akn/ohada/act/loi/undated/aupcap-2015
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