BOOK VI: Company difficulties.

As long as the sale price has not been paid in full, the transferee may not, with the exception of stocks, dispose of or lease under management the tangible or intangible assets it has acquired. However, their total or partial disposal, assignment as security, lease or lease under management may be authorised by the court after a report by the liquidator, who must first consult the social and economic committee….

The court may stipulate in the judgment approving the sale plan that all or part of the assets transferred may not be disposed of, for a period that it shall determine, without its authorisation. Temporary inalienability shall be publicised in accordance with the conditions laid down by a decree of the Conseil d’Etat. Where the court is seised of an application for authorisation to dispose of a property rendered inalienable…

The transferee shall report to the liquidator on the application of the provisions set out in the transfer plan. If the transferee fails to perform its undertakings, the court may, at the request of the public prosecutor on the one hand, the liquidator, a creditor, any interested party or ex officio, after obtaining the opinion of the public prosecutor, on the other hand, order the plan to be rescinded without…

Where the assignment relates to assets subject to a special lien, pledge, charge or mortgage, the court shall allocate to each of these assets, for the purpose of apportioning the price and exercising the preferential right, the share of the price, determined on the basis of the inventory and appraisal of the assets and corresponding to the ratio between the value of that asset and the total value of the…

By the judgment adopting the sale plan, the court may authorise the conclusion of a management lease, even in the presence of any clause to the contrary, in particular in the lease of the property, in favour of the person who has submitted the acquisition offer allowing the best conditions to ensure employment and the payment of creditors in the most sustainable manner. The court shall rule after hearing or…

Article L. 144-7 is not applicable.

In the case of a management lease, the business must actually be sold within two years of the judgment adopting the plan.

The liquidator may obtain from the lessee-manager all documents and information useful to his mission. He shall report to the court on any infringement of the items leased under the management lease as well as any non-performance of the obligations incumbent on the lessee-manager. The court, ex officio or at the request of the liquidator or the public prosecutor, may order the termination of the management lease contract and the…

If the tenant-manager fails to perform his obligation to acquire within the conditions and time limits set by the plan, the court, ex officio or at the request of the liquidator or the public prosecutor, shall order the termination of the management lease contract and the cancellation of the plan without prejudice to any damages. However, where the tenant-manager provides evidence that he is unable to acquire on the terms…