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Structural division: BOOK THREE › party
Article 625 — Single Stay of Actions
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ In order to support the negotiations of a restructuring plan, the debtor may apply to the Court for a single stay against a creditor who has requested payment of its claim or has instituted enforcement actions; the Court shall decide hearing the observations of the expert in the field of restructuring.
2/ Single stay of actions means a temporary suspension on the enforcement of a claim by a single creditor against a debtor or a third party security provider; the stay of actions shall cover all types of claims, including secured and preferential claims.
3/ The total duration of the single stay of actions shall not last longer than the duration of the preventive restructuring proceedings.