COMPILATION OF TREATIES AND UNIFORM ACTS OFFICIAL TRANSLATION
# UNIFORM ACT ORGANIZING COLLECTIVE PROCEEDINGS FOR CLEARING OF DEBTS
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COMPILATION OF TREATIES AND UNIFORM ACTS OFFICIAL TRANSLATION
# TABLE OF CONTENTS
PRELIMINARY TITLE
PART I PREVENTIVE SETTLEMENT ... 363 CHAPTER I COMMENCEMENT OF PROCEEDINGS FOR PREVENTIVE SETTLEMENT ... 363 CHAPTER II ORGANS AND EFFECTS OF PREVENTIVE SETTLEMENT DECISION ... 367 CHAPTER III LEGAL REMEDIES ... 368 PART II RECEIVERSHIP AND LIQUIDATION PROCEEDINGS ... 369 CHAPTER I COMMENCEMENT OF RECEIVERSHIP AND LIQUIDATION PROCEEDINGS ... 369 CHAPTER II ORGANS RESPONSIBLE FOR RECEIVERSHIP AND LIQUIDATION PROCEEDINGS ... 373 Section 1 - Judge Administrator ... 373 Section 2 - Bankruptcy Trustee ... 374 Section 3 - The Legal Department ... 375 Section 4 - Controllers ... 376 Section 5 - General Provisions ... 376 CHAPTER III EFFECTS OF THE DECISION TO OPEN PROCEEDINGS ON THE DEBTOR ... 377 Section 1 - Assistance and loss of possession by the debtor ... 377 Section 2 - Acts with no binding effect on the body of creditors ... 381 CHAPTER IV EFFECTS OF THE DECISION TO OPEN PROCEEDINGS ON THE CREDITORS ... 383 Section 1 - Constitution of the body of creditors and suspensive effects ... 383 Section 2 - Production and verification of claims ... 384 Section 3 - Sureties and Co-obligors ... 388 Section 4 - The secured rights of the worker ... 389 Section 5 - The right of Rescission and the secured rights of the lessor of immovable property ... 389 Section 6 - The rights of the spouse ... 390 Section 7 - Actions for restitution ... 391 Section 8 - The rights of the vendor of movable property ... 391 Section 9 - Enforcement of current contracts ... 392 Section 10 - Continuation of activity ... 393
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Section 11 – Responsibilities of third parties ...395 CHAPTER V RECEIVERSHIP AND LIQUIDATION PROCEEDINGS SOLUTIONS...395 Section 1 – Receivership proceedings solution ...395 Sub-section 1 – Formation of composition with creditors ...395 Sub-section 2 – Composition agreement involving partial transfer of assets ...399 Sub-section 3 – Effects and enforcement of the composition agreement ...400 Sub-section 4 – Resolution and cancellation of the composition agreement ...402 Sub-section 5 – Initiation of a second collective proceeding ...403 Section 2 – Liquidation proceedings solution ...404 Sub-section 1 – Sale of assets ...404 Paragraph 1 – Common provisions relating to the sale of immovable property ...405 Paragraph 2 – Special provisions relating to the sale of seized immovable property ...406 Paragraph 3 – Special provisions relating to the sale of immovable property by way of award 407 Paragraph 4 – Special provisions relating to the sale of immovable property by private contract ...408 Paragraph 5 – Total transfer of assets ...408 Paragraph 6 – Effects of the sale of assets ...409 Sub-section 2 – Clearing of the debts ...409 Sub-section 3 – Close of the union ...411 Section 3 – Closure resulting from inadequacy of assets ...411