CONVERSION INTO A WRIT OF ATTACHMENT AND SALE (SEQUESTRATION OF SHAREHOLDING)

A creditor in possession of a writ of execution in proof of his claim, shall serve on the debtor a writ of attachment and sale which shall, under pain of nullity, contain;-

1) The full names and residence of the distrainee and the distrainor, or, in the case of corporate bodies their legal forms, corporate names and registered offices;

2) Reference to the sequestration report;

3) A copy of the writ of execution except where such writ has already been mentioned in the attachment report, in which case it shall simply refer to it;

4) A separate detailed account of all the sums payable in principal, costs and accrued interest, as well as an indication of the interest rate.

5) A summons to pay the said sums, failing which the attached property shall be sold.

6) An indication in bold characters, that he has a period of one (1) month within which to sell the attached securities by private sale, under the conditions provided for in Article s 115 to 119 of the OHADA Law.

7) A reproduction of Article s 115 to 119 of the OHADA Law.

A copy of the deed of conversion shall be served on the garnishee.

The sale shall be conducted in accordance with the provisions of Article s 240 to 244 of the OHADA Law.

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