CHAD Law and Practice Contributed by: Claudy Monja and Felana Ranaivoson, John W Ffooks & Co
2.8.13 Costs, Fees and Taxes Concerning Export of Aircraft The fees are known at the time of filing with the rel - evant authorities. 2.8.14 Practical Issues Related to Deregistration of Aircraft The deregistration of an aircraft is subject to the release of the rights registered on that aircraft. If the aircraft is leased, the owner(s) must apply for dereg - istration of the lease. 2.9 Insolvency Proceedings 2.9.1 Overview of Relevant Laws and Statutory Regimes Governing Restructurings, Reorganisations, Insolvencies and Liquidations Insolvency is regulated by the OHADA Uniform Act on insolvency proceedings (the “Uniform Act on Insol - vency”). The Uniform Act on Insolvency regulates all matters relating to insolvency law in all OHADA mem - ber states. Its purpose is: • to organise pre-insolvency procedures of concili - ation, preventative settlement and rehabilitative proceedings of reorganisation and assets liquida - tion so as to preserve the economic activities and employment of debtor companies, quickly reha - bilitate healthy companies and liquidate distressed ones in such a way that the debtors’ assets will be maximised for the purpose of increasing receiva - bles to be recovered by creditors and establish a specific order of payment to secured or unsecured collateral securities; • to define rules applicable to judicial administrators; and • to set proprietary and professional sanctions as well as criminal proceedings related to the default of the debtor, applicable to the debtor company’s top executives and individuals involved in manag - ing the insolvency proceedings. To summarise, insolvency proceedings are under the control of the judge ( juge commissaire ) and the assets of the company are placed under the supervision of a judicial trustee ( syndic ), whose main responsibility is to act in the overall interests of the creditors as a whole ( masse des créanciers ).
A judgment from the commercial court confirms the starting of insolvency proceedings ( jugement d’ouverture ). Such judgment is published in the Com - panies Registry or Registre du commerce et du crédit mobilier (RCCM) and in the newspapers. A second publication should be made 15 days after the first publication. The two publications must contain a warning to creditors to produce their claims to the syndic . Creditors’ claims against the company must be declared to the syndic within two months following the second publication of the insolvency judgment. This period is extended to three months for creditors residing outside the national territory. In principle, the declaration must contain the amount of the claim, its due date and the amount due. The declaration must also specify the type of security attached to the claim (if any). Creditors should also provide the syndic (to the extent possible) with any evidence of the existence of their claims. The syn- dic will provide the creditors with a receipt confirming that their declarations have been duly received by the syndic . Note that insolvency proceedings suspend and pro - hibit any individual claim initiated by a creditor. Two situations may occur, as set out below. • The juge commissaire may decide that the activi - ties of the company must be continued (legal redress, or redressement judiciaire ). In a legal redress, the directors/managers of a company are assisted by the syndic in the administration of the company. Any commitment or operation made by the directors/managers without the assistance of the syndic is not enforceable towards third parties. • The juge commissaire may decide that the activi - ties must be terminated (liquidation). In the event of a liquidation, the directors/managers of a company are removed from their duties. Only the syndic is allowed to represent the company during the liquidation. 2.9.2 Overview of Relevant Types of Voluntary and Involuntary Restructurings, Reorganisations, Insolvencies and Receivership The lessee can lodge a declaration of cessation of payment with the commercial court and request the
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