Article 101

A — When proceeding with the forced liquidation, the liquidator shall have the right to exercise any of the powers of the banking firm under liquidation. However, he must obtain the approval of the Court in order to be able to take any of the following measures :
1 — Sell any asset or property of the banking firm when the value of such asset or property is in excess of 100,000 (one hundred thousand) dinars.
2 — Hypothecate any of the assets or funds of the banking firm as a security in favour of any creditor of such banking firm.
3 — Make any settlement or waiver of rights when the amount involved exceeds 50,000 (fifty thousand) dinars.
B — The liquidator may, after the issuance of the Court ruling ordering forced liquidation, terminate any employment agreement, or any lease agreements or service agreements signed by the banking firm under liquidation within three months immediately proceeding the date on which the Agency actually assumed its administration.
C — The liquidator must, as soon as possible after the issuance of the Court ruling ordering forced liquidation, take such measures as are necessary to terminate the activities of the banking firm relating to the custody of safe deposits, to return to the owners all assets and funds held in safe deposit by the banking firm, and to close safe deposit accounts.
D — The liquidator shall, as soon as possible after the court ruling ordering forced liquidation is issued, send by registered mail to all depositors and other creditors, all safe deposit box holders as well as to owners of real property or other assets leased to the banking firm, at their respective addresses appearing in the books of the banking firm, a statement on the nature and amount of their rights as recorded in such books. This statement shall specify that any objection to it must be sent to the Court within a time limit which shall not be less than sixty days. The statement shall also include an invitation to the holders of safe deposit boxes and to owners of funds deposited as security to recover their property.
E — If upon the lapse of sixty days the holders of safe deposit boxes have failed to withdraw their property, the boxes shall be opened in the manner to be determined by the liquidator. As regards property held by the banking firm under liquidation that is not claimed by the owners, as well as real property and other assets occupied by the banking firm as a tenant, and the lists of their contents, these shall be kept by the liquidator for a period of one year unless the owners claim their property before the end of this period.
F — The liquidator may take such other action as he may deem necessary for the liquidation operations.