TITLE IV: Judicial liquidation and professional recovery.

Sales of real estate shall take place in accordance with articles L. 322-5 to L. 322-12 of the Code of Civil Enforcement Procedures, with the exception of articles L. 322-6 and L. 322-9, provided that these provisions are not contrary to those of the present code. The official receiver shall set the reserve price and the essential conditions of the sale. When a seizure of immovable property procedure initiated prior…

The official receiver either orders the sale by public auction or authorises, at the price and under the conditions that he determines, the sale by mutual agreement of the debtor’s other assets where this is likely to safeguard the debtor’s interests. Where the sale takes place by public auction, it is carried out under the conditions provided for in the second paragraph of article L. 322-2 or in the articles…

The conditions and forms of appeal against the decisions of the official receiver taken pursuant to articles L. 642-18 and L. 642-19 are set by decree in the Conseil d’Etat.

Asset transfers carried out pursuant to Articles L. 642-18 and L. 642-19 are subject to the prohibitions set out in the first paragraph of Article L. 642-3. However, the juge-commissaire may, at the request of the public prosecutor, derogate from this and authorise the assignment to one of the persons referred to in this text with the exception of the auditors and the debtor in respect of any of his…

If the pledge or the thing legitimately retained is not withdrawn in accordance with the conditions set out in the second paragraph of Article L. 641-3, the liquidator must, within six months of the judgment of compulsory liquidation, apply to the official receiver for authorisation to proceed with the realisation. The liquidator notifies the creditor of the authorisation fifteen days before the realisation. A pledgee, even if not yet admitted,…