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Structural division: BOOK THREE › party
Article 621 — Duties of the Expert in the Field of Restructuring
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ Acting independently, the expert in the field of restructuring shall, among others, carry out the following tasks:
a) determine the creditors participating in the preventive restructuring proceedings;
b) assist the debtor and the creditors in drafting and negotiating a restructuring plan;
c) convene and preside over the creditors’ meetings;
d) supervise the activities of the debtor during the negotiations on a restructuring plan and report periodically to the Court on the progress of the negotiations;
e) present the restructuring plan to the Court for confirmation; and
f) prepare the sale of the business as a going-concern, as the case may be.
2/ In discharging his duties, the expert in the field of restructuring may:
a) order the debtor or any third party to provide necessary additional financial or accounting information;
b) appoint independent experts including to audit the financial situation and business plan of the debtor.