BOOK VI: Company difficulties.

Where it appears that the debtor does not meet the conditions required for the opening of safeguard proceedings, the court shall reject the application.

The judgment opening the safeguard proceedings shall be notified to the debtor by the registrar within eight days of the date of the judgment.

The court clerk shall without delay send a copy of the judgment initiating the proceedings: 1° To the designated judicial representatives; 2° To the public prosecutor; 3° To the departmental or, where appropriate, regional director of public finance of the department in which the debtor has his registered office and to that of the department in which the principal place of business is located.

The registrar shall inform the person responsible for carrying out the inventory of its appointment by any means.

The judgment opening the safeguard proceedings shall be mentioned together with an indication of the powers conferred on the administrator, where one has been appointed, in the register of commerce and companies if the administrator is a trader or a legal person registered in that register. In addition, for proceedings opened on or after 26 June 2018, the judgment shall be mentioned together with an indication of the main, secondary…

For the application of the second and third paragraphs of Article L. 621-2, the matter shall be referred to the court by means of a writ of summons for the purpose of extending the proceedings or reuniting the assets of the entrepreneur or, where applicable, in the forms and according to the procedure provided for in Article R. 631-4. The judgment shall be served on the debtor subject to the…

For the application of the fourth paragraph of Article L. 621-2, the judge shall determine the amount of the sums for which the protective measure is ordered in the light of the liabilities declared in the collective proceedings opened or, if the time limit mentioned in the first paragraph of Article R. 622-24 has not expired, in the light of the statements mentioned in Article R. 625-1.

The observation period opened by the judgment may be renewed, pursuant to Article L. 621-3, for a maximum period of six months. The president shall set the case on the court’s roll no later than ten days before the expiry of each observation period. The court clerk will summon the debtor, the representatives of the court and the auditors to the hearing and will notify the public prosecutor’s office. The…

In the opening judgment or at any time during the proceedings, the court may appoint a substitute official receiver to exercise the powers of the official receiver temporarily prevented from doing so.

The thresholds set pursuant to the fourth paragraph of Article L. 621-4 are for turnover excluding tax of 3,000,000 euros and for the number of employees of twenty. The amount of turnover is defined in accordance with the provisions of the sixth paragraph of Article D. 123-200. It is assessed on the closing date of the last accounting period. The number of employees to be taken into account is the…