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Structural division: BOOK THREE › party › CHAPTER SIX
Article 615 — Persons who may not be Appointed as
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ The following persons shall not be appointed as supervisors in reorganization and trustees in bankruptcy:
a) any person who has been convicted of any offence involving a breach of trust or fraud, whether in Ethiopia or in other country;
b) any person who has been sentenced to deprive his civil rights;
c) any shareholder, manager or director of the debtor;
d) any person related by consanguinity or affinity inclusive of and up to a fourth degree a shareholder, manager or director of the debtor;
e) any creditor of the debtor;
f) any person having or likely to have conflict of interests.
2/ The supervisor in reorganization and the trustee in bankruptcy shall not acquire any asset or property of the debtor through purchase or other means; Any acquisition in violation of this provision shall be of no effect; Supervisors in reorganization and trustees in bankruptcy who violate this rule shall be removed.