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Structural division: books › CHAPTER SIX › SECTION TWO
Article 783 — Deductions
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ After the sale of encumbered assets and final establishment of the order of priority of secured, preferred and unsecured creditors in accordance with Article 786 of this Code secured and preferred creditors entitled to claim priority of payment from the proceeds of encumbered assets shall receive their secured dividends only after the deduction of the amounts collected by them from the proceeds of the sale of unencumbered assets.
2/ Amounts thus deducted shall be added to the estate and form part of the proceeds to be distributed among creditors in accordance with the order of priority set down in Article 786 of this Code.