The disposition of the business assets shall be recorded only after completing the following formalities: 1. The employee in charge at the Commercial Registry shall, at the request and expense of the buyer, publish a summary of the sale contract according to the procedures and time limits set out in the legislation in force in the State. 2. The summary published shall include names of the contracting parties, their nationalities and places of residence, designation of the business assets, total price and an authorization to the creditors to submit their objections within (10) ten business days from the date of the last publication. 3. Objections shall be lodged with the competent civil court to which jurisdiction the business assets pertain and they shall include the sum and cause of the debt. 4. The buyer shall abstain from paying the price until the court decides on the objections. However, the seller may file a motion to the interim relief judge to authorize him to receive the price even before the objections are considered if he provides sufficient safeguards for the settlement of the creditors' rights. 5. Any objecting creditor or mortgagee may offer to buy the business assets for himself or for a third party for a price above the price agreed upon by at least one fifth. 6. Any person objecting to the price shall deposit in the court treasury a sum equal to at least one third of the original price in addition to the sum of money offered by him above the original price. 7. The competent court shall communicate the bidding offers to the two parties to the business assets sale contract, and after the lapse of (20) twenty days from such communication, the competent court shall decide to sell the business assets to the person who offered the highest price.
Interpretation and application must be checked against the official text and current version.