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Structural division: books › CHAPTER SIX › SECTION THREE
Article 789 — Principle of Distribution of Payments
New Ethiopian Commercial Code Proclamation No. 1243 2021 English Version
Article text
1/ Where the total amount to be paid is not sufficient to fully satisfy the claims of creditors belonging to the same class of rank, such creditors shall be paid on a pro rate basis based on the admitted claims.
2/ Where the total amount of money to be distributed is not sufficient to fully satisfy the claims, the creditors at the lower rank shall not be paid before all the creditors at the higher rank are fully paid.