Status requires review — We have not verified this source's current status.
Structural division: BOOK THREE › party › CHAPTER SIX
Article 614 — Liability of Supervisors in Reorganization and
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ Supervisors in reorganization and trustees in bankruptcy shall:
a) be deemed to be public officials in the exercise of their functions;
b) carry out their duties with all necessary care;
c) be liable for gross negligence or willful misconduct, open-mindedly special causes of liabilities set out in this Book or in other regulations.
2/ The supervisor and the trustee who replace the supervisor in reorganization or trustee in bankruptcy, a controller, the public prosecutor and the debtor in possession in reorganization proceedings may bring a liability action against the supervisor in reorganization or the trustee in bankruptcy before the court that shall have exclusive jurisdiction to hear such cases.
3/ Any action under Sub-Article
(2) shall be time barred where it is not brought within one year from the closure of the proceedings; Such timeline shall not be subject to any interruption or suspension.