Burkina Faso Adopts Two Instruments on the Status of Judicial Administrators
In accordance with the Uniform Act of 10 September 2015 on insolvency proceedings, Burkina Faso has adopted two important texts aimed at regulating the activities of judicial administrators in bankruptcy: Decree No. 2016-736 of 8 August 2016 fixes a scale of remuneration for judicial administrators in insolvency proceedings and Law No. 035/2016 / AN of 15 November 2016 defines the status of judicial administrators in insolvency.
Decree No. 2016-736 of August 08, 2016 establishes a scale of remuneration of experts in insolvency proceedings and receivers by making a distinction according to whether the receiver acts as a controller, as a receiver in administration proceedings or as a receiver in liquidation proceedings. A lump sum is provided for the remuneration of receivers participating in simplified procedures for administration and liquidation of assets.
On its parts, Law No. 035/2016 / AN of 15 November 2016, which was promulgated by Decree No. 2016-1171 of 28 December 2016 (published in the Official Gazette of Burkina Faso on 26 January 2017), deals with the status of judicial administrators. The law:
- lays down the conditions for access to the profession of Judicial Administrator, the list of which is drawn up annually by the Supervisory Commission, published in the Official Journal and communicated to the courts;
- determines the conditions for practicing the profession;
- establishes a National Supervisory Commission for the regulation and supervision of judicial administrators;
- lays down disciplinary rules for judicial administrators as well as sanctions for any violation.
By these instruments, Burkina Faso joins Cote d'Ivoire, Mali and Senegal in the list of States which have adopted additional internal texts to guarantee the proper application of the Uniform Act on Insolvency Law.
The Permanent Secretary welcomes this development, which contributes to optimizing the conditions for handling companies' difficulties in OHADA space.