Chapter II: The company during the observation period.

The opening judgment does not render due and payable claims that have not fallen due on the date of its pronouncement. Any clause to the contrary is deemed unwritten.

Mortgages, pledges and liens may no longer be registered after the opening judgment. The same applies to deeds and judicial decisions transferring or constituting rights in rem, unless these deeds have acquired date certain or these decisions have become enforceable before the opening judgment. However, the Treasury retains its lien for claims that it was not required to register on the date of the opening judgment and for claims collected…

A creditor who is the holder of commitments jointly and severally subscribed, endorsed or guaranteed by two or more co-obligors subject to a safeguard procedure may declare his claim for the nominal value of his security in each procedure.

No recourse for payments made shall be open to the co-obligors subject to safeguard proceedings against each other unless the aggregate of the sums paid under each procedure exceeds the total amount of the claim, in principal and accessory; in this case, this surplus shall devolve, according to the order of commitments, to those of the co-obligors who would have the others as guarantors.

If the creditor holding commitments, jointly and severally subscribed by the debtor subject to safeguard proceedings and other co-obligated persons, has received an advance payment on his claim before the opening judgment, he may only declare his claim after deduction of this advance payment and retains, on what remains due to him, his rights against the co-obligated persons or persons having granted a personal surety or having assigned or transferred…

Even before payment, persons who are co-obligated or have granted a personal surety or have assigned or transferred an asset as collateral may proceed with the declaration of their claim to safeguard their personal recourse.