SECTION 76

The distrainor creditor who undertakes the removal of the property with a view to its forced sale shall, by registered mail with acknowledgement of receipt or by any other means with written proof, inform the creditors who carried out a sequestration of the same property before the attachment or conversion as the case may be. Under pain of nullity, registered mail or the other means used to communicate shall state the name and address of the officer of court in charge of the sale and reproduce in bold characters the following paragraphs. Each creditor shall, within a period of fifteen (15) days of receipt of the registered letter or other means used in informing him of the removal of the property with a view to selling it, inform the officer of court in charge of the sale of the nature and amount of his claim as at the date of the removal. Where he fails to reply within the time limit, he shall lose the right to a share in the proceeds from the private sale, unless he asserts his claim on the balance of the proceeds after the distribution, if any.