CÔTE D’IVOIRE Law and Practice Contributed by: Samirah Mogony and Mialy Solofohery, John W Ffooks & Co
The law is silent on how long it will take to obtain a certificate of airworthiness for export purposes and on whether this can be issued in advance. 2.8.13 Costs, Fees and Taxes Concerning Export of Aircraft The relevant law does not provide for costs/fees/taxes that are charged in respect of the export of an aircraft. 2.8.14 Practical Issues Related to Deregistration of Aircraft While the law requires the removal of registration marks from an aircraft, the law does not require that the ANAC be provided with evidence of such removal. 2.9 Insolvency Proceedings 2.9.1 Overview of Relevant Laws and Statutory Regimes Governing Restructurings, Reorganisations, Insolvencies and Liquidations The Organisation for the Harmonisation of Business Law in Africa ( l’Organisation pour l’Harmonisation en Afrique du Droit des Affaires , or OHADA) Uniform Act dated 10 September 2015 (the “Uniform Act on Insol - vency”) governs insolvency and restructuring in Côte d’Ivoire. 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 asset 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 the insol - vency proceedings management.
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 interests of the creditors as a whole ( masse des créanciers ). A judgment from the commercial court confirms the start of insolvency proceedings ( jugement d’ouverture ). Such judgment is published in the Companies Reg - istry, 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 and its due date. 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 exist - ence of their claims. The syndic will provide a receipt to the creditors confirming that their declarations have been duly received. 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 decides that the activities 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 liqui - dation.
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