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Structural division: BOOK THREE › CHAPTER TWO
Article 592 — Pre-Insolvency Claims
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ For the purpose of this Book, pre-insolvency claims refer to all the claims that arise prior to the opening of reorganization proceedings, or bankruptcy proceedings, as the case may be, including interests thereon, irrespective of whether these claims are due and payable.
2/ In the case of ongoing contracts, claims arising from the continued performance of the contract after the opening of reorganization proceedings or bankruptcy proceedings, as the case may be are post-insolvency claims.
3/ In the case of the termination of ongoing contracts by the supervisor- in reorganization or the trustee- in bankruptcy, penalties and other forms of indemnities resulting from the termination shall be considered to be pre-insolvency claims.