THE CUBA REVIEW 



administration and government of the bank, its reorganization or its liquidation, as the 

 case may be, and they shall, therefore, exercise, under the supervision, direction and 

 government of the Commission, all of the powers and rights which correspond to the 

 shareholders, directors, managers and bankers, who shall have no other inter\'ention 

 than that granted them in this Title. 



When there should fail to be unanimity of opinion among the receivers, the 

 matter in discord shall be submitted to the decision of the National Banking Com- 

 mission, which shall also have the power to revoke any resolution or agreement of 

 the receivers. 



182. The resolution and decisions reached by the receivers on all matters relative 

 to the acknowledgment, concurrence and preference of credits, amounts to be paid 

 to creditors, propositions for reorganization and liquidation, shall not become final 

 until ten days after they have been notified to the interested parties, the National 

 Banking Commission being authorized to revoke the same during said ten days. 



Notification to the interested parties shall be made in writing and when this is 

 not possible, within twenty-four hours after the resolution has been adopted, the 

 notification shall be made on the bulletin board which the receivers shall place for 

 that purpose on the outside of the hall in which they hold their sessions, and the place 

 where the same is exhibited should be easily accessible to the interested parties. "\\Tien 

 the resolution or decision is collective in character the notification shall likewise be 

 made in the same manner to the various representations of the capital and of the 

 creditors and it shall be the duty of the same to act for the benefit of their principal 

 if it were proper. 



Only with respect to the decisions and resolutions referred to in the present 

 section shall any interested party be granted an appeal before the Courts and in so 

 doing shall appear before the Civil Chamber of the Supreme Court, through a brief 

 signed by an attorney at law and with a certified copy of the decision or resolution 

 which the receivers shall issue to the interested parties within twenty-four hours 

 after it has been solicited. As soon as the Court has received the petition it shall 

 report to the receivers by the quickest possible method so that they shall hold their 

 resolution in abeyance, and within the next ten days the Court shall decide what 

 it considers proper. Against this decision there can be established no appeal save 

 that of "suplica." When the Court has issued its final decision in the matter it shall 

 communicate the same to the receivers so that they shall proceed to comply with 

 that decision. The Court may hear the receivers within the time allowed it for 

 handing down its decision. 



The Court shall decide upon the matters submitted to its consideration in accord- 

 ance with the legal provisions in force and according to custom, general principles 

 of law or commercial usage, so that in no case will it fail to decide upon the matter 

 that has been submitted to its judgment. 



183. From the moment that the National Banking Commission shall decree the 

 state of susp>ension of payments, according to what is provided in the present Title, no 

 creditor shall be able to start execution proceedings, nor exercise private actions, except 

 mortgage or pledge creditors, against the property mortgaged or given in pledge, as 

 far as the same shall answer for the obligations contracted. 



All pending actions shall continue except when anything to the contrary is provided 

 in this Title, but executive actions shall be suspended at the stage of execution and 

 ordinary actions shall be suspended in the stage of execution of the judgment. 



184. Within six months from the time that the National Banking Commission 

 has issued the Decree declaring the suspension of payments of a bank, the receivers 

 shall propose to said Commission, to the creditors of the three classes into which they 

 have been divided by the present Title, and to the shareholders or owners of the 

 capital, a plan of reorganization, provided that it is possible to pay the creditors by 



