Unofficial translaction
the earliest bidder,shall reproduce in full the sale agreement that gave rise to the bid and
security interests previously recorded as well as objections regularly notified following
publication of the voluntary sale of theenterprise, or during the forced sales.
Within exactly fifteen(15)daysfrom thebidding,thebiddershall publish, at his expense, in a
newspaper empowered to publish legal notices and circulating where the seller is registered in
the Register of Commerce and Securities, a notice stating the place and date of the judicial
sale as well as modalities for consulting the terms of reference. Passed this deadline, the bid
shall automatically be void and null and the sole bidder shall pay for all related costs without
prejudice to the suit for damages possibly for an unreasonable bidding.
No new objection may be filed during the bidding process.
ARTICLE 165- The sale shall be carried out as an auction at the helmof the competent court.
ARTICLE 166-When the price is not paid in cash, the seller shall have a lien on the sold
enterprise.
For this purpose, he shall proceed with the registration of his seller’s lien within the guidelines
of this uniform Act.
ARTICLE 167– When the seller is not paid by the agreed deadlines, he can request the
cancellation of the sale, in accordance with common law.
ARTICLE 168–The seller who exerts the resolutory action shall make the notification by an
extrajudicial deed or by any means proving in writing notification to creditors listed on the
enterprise and to their elected residence as per their indication.
He shall also proceed with the provisional entries of his resolutory action in accordance with
the provisions afforded to this effect by the Uniform Act on securities interests.
The cancellation may only be pronounced by the competent court of the place of registration
of the seller of the enterprise.
Anyamicable cancellation agreement of a sale of the enterprise shall be unenforceable
againstthebuyer’s creditors who have filed a lien on the enterprise.
BOOK VII
COMMERCIAL INTERMEDIARIES
TITLE I: COMMON PROVISIONS
CHAPTER I: DEFINITION AND SCOPE
ARTICLE 169-The commercial intermediary is a natural person or legal entityempowered to
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