Overvaluation of assets

(1) Where any of the parties contends that the value given to any of the assets is excessive, he shall state which according to him is its fair value and the interested parties shall in the conference resolve as whether the value shall be maintained or decreased. In the latter case, the value shall be fixed in such conference. (2) But, where a party declares that he accepts the thing for the value given to it, the value shall not be decreased. Such a declaration shall amount to licitation. Where more than one party accepts the valuation, licitation shall be held amongs them and the thing shall be adjudicated to the highest bidder. In case the parties are unable to fix the value, the value given shall subsist. (3) The objection regarding overvaluation may be raised orally during the conference.