BOOK VI: Company difficulties.

The provisions of this section are applicable to companies which reach thresholds set by decree in the Conseil d’Etat. They also apply to companies which own or control another company, within the meaning of Articles L. 233-1 and L. 233-3, provided that all the companies concerned reach thresholds set by decree in the Conseil d’Etat. The thresholds provided for in the two preceding paragraphs are defined by reference either to…

I.-Affected parties are: 1° Creditors whose rights are directly affected by the draft plan; 2° The members of the extraordinary general meeting or the shareholders’ meeting, the special meetings referred to in articles L. 225-99 and L. 228-35-6 and the general meetings of the masses referred to in article L. 228-103, if their shareholding in the debtor’s capital, the articles of association or their rights are modified by the draft…

The right of an affected party to vote in a class constitutes an accessory to the claim arising prior to the judgment opening the proceedings and is transferred ipso jure to its successive holders notwithstanding any clause to the contrary. The holder of the transferred claim shall only be informed of the debtor’s proposals and allowed to cast a vote from the day on which the administrator is informed of…

Where the draft plan has been adopted by each of the classes in accordance with the provisions of Article L. 626-30-2, the court shall rule on it in accordance with the procedures set out in Section 2 of this chapter and shall verify that the following conditions are met: 1° The plan has been adopted in accordance with article L. 626-30; > 2° The affected parties, sharing a sufficient community…

The mission of the administrator responsible for the implementation of the plan does not end until payment of the last instalment provided for in the plan, if this is later than the instalment stipulated by the parties prior to the opening of the proceedings. As an exception to the provisions of Article L. 626-26, a substantial change in the objectives or means of the plan adopted by the court pursuant…

I.-Where the plan is not approved in accordance with the provisions of article L. 626-30-2, it may be adopted by the court at the request of the debtor or the court-appointed administrator with the agreement of the debtor and be imposed on the classes that voted against the draft plan, where this plan meets the following conditions: 1° The plan complies with the conditions set out in the second to…

I.-Where the challenge by an affected party, who has voted against the plan, relates to non-compliance with the condition provided for in 4° of Article L. 626-31 or with the fifth or tenth paragraph of Article L. 626-32, the value of the debtor’s business shall be determined in accordance with the procedures provided for by decree in the Conseil d’Etat. II.-The decision taken by the court pursuant to Article L….

A decree in Council of State shall determine the conditions of application of this section.