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Structural division: BOOK THREE › party › CHAPTER TWO
Article 655 — Consequences of the General Stay of Individual
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
Enforcement Actions For the duration of the observation period:
1/ the obligation to file for the opening of bankruptcy proceedings shall be suspended;
2/ the due date of pre-insolvency claims may not be accelerated;
3/ interest accruing on pre-insolvency claims shall continue to accrue at the applicable rate;
4/ creditors may not start any legal proceedings with respect to the payment of pre-insolvency claims;
5/ creditors may not receive any payment of pre- insolvency claims.