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Law No. 13.469

CUOPAR, MONTEVIDEO WOOL, LANGON AND NOCERA S. A.

PUBLIC UTILITY IS DECLARED TO BE EXPROPRIATED BY THE STATE AND THE IMMEDIATE OCCUPATION OF THE ASSETS THAT MAKE UP THE ASSETS OF THE COMPANIES.

DECREE:

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Article 1 °.
Public utility declares the expropriation and immediate occupation of the assets that make up the assets of the companies Cuopar S. A., Montevideo Wool Import Export S. R. L., Langon S. A. and Nocera S. A. by the State.
Article 2 °.
The Executive Branch, through the Ministry of Industries and Labor, will manage before the competent Judge the expropriation of the goods of the companies mentioned, requesting the urgent takeover of the same. The Court will estimate the approximate value of the goods whose expropriation is requested and will provide for compliance with the urgent takeover, once the deposit of the amount fixed, in the Directorate of Public Credit, to the order of the Judged, with deduction of the sum indicated in article 5 ° of this law.
The Judge may take into account the sums that the owners of the expropriated assets may require the State, for the purposes of limiting the amounts to deposit. />
The Department of Mission will be able to rediscount the Bank Department of the Bank of the Eastern Republic of Uruguay, the representative documents of the expropriated securities, up to the amount that the Executive Branch requests, for the purposes of make the prior deposit referred to in this article.

Article 3 °.
Facultate to the Executive Branch to operate in the manner and conditions that it rules, the expropriated enterprises listed in the article first, so that the continuity of its industrial and commercial exploitation.
The Executive Branch may commit the administration of the same, to the members of the designated Interventilating Commission, to the date of publication of this law.

Article 4 °.
The Executive Branch may grant, lease or sell the entire economic set, by subscribing to the necessary contracts or documents, giving preference to the worker and employee cooperative. to be formed, in order to continue the operation, and that they have integrated at least the majority of the existing staff to the date of publication of this law.
Elapsed after the end of two years without the possibility of having been possible constitute the new cooperative the State will proceed to the concession, lease or global sale, of the goods objects of this expropriation, to the natural or legal persons who ensure the continuity of the aforementioned exploitation.

Article 5 °.
The Banco de la República Oriental del Uruguay will be able to advance the amount of $18:000,000.00 (eighteen million pesos) in quality of loan, for the payment of the debts from the purchases of wool, supplies and services performed by plaza providers. The debts will be fixed to the date on which the judicial intervention of the companies covered by this law was decreed.

Article 6 °.
From the act of taking possession of the goods, the expropriation of which is requested, no action or judicial procedure against such goods may be initiated or continued, for debts incurred by the companies referred to in the first article, and all creditors must be present in the degree and priority that they legally correspond to, only against the assets deposited in the Public Credit Directorate.
This provision will not take advantage of the co-debtors or guarantor of the undertakings covered by this law.

Article 7 °.
This law shall enter into force on the day of its publication in the "Official Journal".

Article 8 °.
Commune, etc.


Chamber of Sessions of the House of Representatives, in Montevideo, on January 19, 1966.




    MINISTRY OF FINANCE.
      MINISTRY OF INDUSTRIES AND LABOUR.

Montevideo, January 27, 1966.

Comply, acknowledge receipt, communicate, post and insert into the National Register of Laws and Decrees.


                                                          BELTRAN.
                                                      DART ORTIZ.
                                                JOHN E. P DEVOTEE.
                                           Modesto Burgos Morales,
                                                       Secretary.