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Overindebtedness
Article 742.
- (1)
- A company shall be deemed overindebted provided its assets are insufficient to cover its liabilities.
- (2)
- Bankruptcy proceedings on grounds of overindebtedness can also be initiated by a member of the company's management body, as well as by the liquidator.
Separation of Property
Article 743.
- (1)
- The assets of a general partnership, limited partnership or partnership limited by shares with respect of which bankruptcy proceedings have been initiated, as well as the assets of an unlimited partner shall be kept separately.
- (2)
- Creditors with personal claims on debts of an unlimited partner shall not participate in the distribution of the company's assets.
- (3)
- The creditors of a company can participate in the distribution of the personal property of an unlimited partner only with a claim which has not been satisfied in the course of the company's bankruptcy proceedings.
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