When confirmation of the composition agreement with assignment of assets becomes enforceable, the debtor’s right of disposal and the signatory powers of the previously authorised persons lapse.1
If the debtor is entered in the commercial register, the words «in composition liquidation» must be added to the business name. The estate can be made subject to debt enforcement proceedings under this name for debts not covered by the composition agreement.
The liquidators must carry out all the transactions required to preserve and realise the assets and for any transfer of the assigned assets.
The liquidators shall represent the estate in court. Article 242 appliesmutatis mutandis .
Footnotes
Amended by Annex No 4 of the FA of 19 June 2020 (Company Law), in force since 1 Jan. 2023 (AS 2020 4005; 2022 109;BBl 2017 399). ↩
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