TITLE IV: Judicial liquidation and professional recovery.

The liquidator or the administrator, where one has been appointed, shall provide the court with all information required to verify the serious nature of the offer and the third-party status of its author within the meaning of the provisions of Article L. 642-3. It also provides the court with all the information it needs to assess the conditions for discharging the liabilities, in particular with regard to the price offered,…

When the debtor carries on an activity that is covered by an administrative authorisation, approval, agreement or authorisation, mentioned in the 1° or 2° of II of Article 1 of Law n°2014-856 of 31 July 2014 relating to the social and solidarity economy, the bidder shall consult the administrative authority or the control and pricing authority. The liquidator or administrator, where one has been appointed, shall ensure that this consultation…

After obtaining the opinion of the public prosecutor’s office and hearing or duly summoning the debtor, the liquidator, the administrator where one has been appointed, the person or persons appointed by the social and economic committee and the auditors, the court selects the offer that best enables the employment attached to the business to be sold to be secured in the long term, the creditors to be paid and which…

A substantial change in the objectives and means of the plan may only be decided by the court, at the request of the transferee. The court shall rule after hearing or duly summoning the liquidator, the court-appointed administrator where one has been appointed, the auditors, the person or persons appointed by the social and economic committee and any interested person and after obtaining the opinion of the public prosecutor. However,…

The court shall determine the leasing, rental or supply contracts for goods or services necessary to maintain the business in the light of the observations of the debtor’s co-contractors transmitted to the liquidator or the administrator where one has been appointed. The judgment adopting the plan entails the assignment of these contracts, even where the assignment is preceded by the management lease provided for in Article L. 642-13. These contracts…

In execution of the plan approved by the court, the liquidator or the administrator, where one has been appointed, shall take all necessary steps to complete the transfer. Pending the completion of these acts and upon proof of the deposit of the transfer price or an equivalent guarantee, the court may entrust the transferee, at its request and under its responsibility, with the management of the transferred business. Where the…

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…