The new security interests regime applicable in the Democratic Republic of Congo after its accession to OHADA1

more+
less-
more+
less-

By finally adhering to the OHADA Treaty and to the uniform acts promulgated thereunder (the “Uniform Acts”), the Democratic Republic of Congo (the “DRC”) has finally adopted a set of business laws which should create a more investor friendly environment in a country which is currently ranked 178 (out of 183) by the World Bank in its Doing Business Index.

Among the various Uniform Acts which became applicable in the DRC on 12 September 20122, the Uniform Act on Security (the “AUS”) helps to modernize the security law framework and facilitate the financing of projects in the DRC by allowing the lenders to benefit from a complete security package without impacting the operations of the projects, which was not possible under the former security interests law (Loi n°73-021 du 20 juillet 1973 portant régime general des biens, régime foncier et mobilier et régime des sûretés telle que modifiée et completée par la Loi n°80-008 du 18 juillet 1980) (the “Former Security Law”).

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Topics:  Foreign Investment, OHADA Treaty, Securities

Published In: Administrative Agency Updates, Finance & Banking Updates, International Trade Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Aird & Berlis | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »