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Structural division: BOOK THREE › party › CHAPTER ONE
Article 709 — Opening of Bankruptcy Proceedings after Death
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ Where a trader dies after having been in cessation of payments, he may be declared bankrupt within one year from his death.
2/ Bankruptcy proceedings may be opened against such trader by:
a) a creditor;
b) the public prosecutor; or
c) the Court acting on its own motion.
3/ An heir may apply for bankruptcy in order to prevent the assets of the succession from being mixed with his own property.
4/ Judgment rendered for opening bankruptcy after death shall immediately suspend the effect of the separation of estates obtained by the creditors of the deceased under the provisions of the Civil Code.