Chapter III: Provisions common to the sale and pledging of a business.

In the event of a transfer of the business, the registered claims become due ipso jure if the owner of the business has not notified the registered creditors, at least fifteen days in advance, of his intention to transfer the business and of the new registered office he intends to give it. Within fifteen days of the notice to be served on him or within fifteen days of the day…

A landlord seeking to terminate the lease of the building in which a registered business is operated must notify the previously registered creditors of his request, at the address declared by them in their registrations. The judgment may not be rendered until one month has elapsed since the notification. The amicable termination of the lease does not become final until one month has elapsed since the notification made to the…

I.-A creditor who initiates an attachment-sale procedure or the debtor against whom it is initiated may request, before the commercial court within whose jurisdiction the business is operated, the sale of the distrainee’s business together with the equipment and goods belonging to it. II.-When proceedings are initiated by the creditor, the latter definitively waives the benefit of the attachment-sale procedure. II – When proceedings are initiated by the creditor, the…

The court appoints, if necessary, a provisional administrator of the business, sets the upset prices, determines the main conditions of the sale, and appoints the public officer who draws up the specifications to carry out the sale. Extraordinary publicity, where useful, is regulated by the judgment or, failing this, by order of the president of the commercial court made on application. The latter may, by the decision rendered, authorise the…

Creditors registered on a business may also, even under private deeds, have the sale of the business ordered, eight days after a summons to pay made to the debtor and the third party holder, if any, has remained unsuccessful. The application shall be brought before the Commercial Court within whose jurisdiction the said business is operated, which shall rule as stated in Article L. 143-4.

The pursuing party summons the owner of the business and the creditors registered prior to the decision ordering the sale, to the domicile declared by them in their registrations, at least fifteen days before the sale, to take notice of the specifications, to provide their statements and observations and to attend the auction, if they so wish. The sale takes place at least ten days after posters have been put…

The president of the court shall rule, if necessary, on the grounds of nullity of the sale procedure prior to the auction, and on the costs. These pleas must be opposed, on pain of forfeiture, at least eight days before the auction. The fourth paragraph of Article L. 143-4 shall apply to the order made by the president.

The Commercial Court, seised of a claim for payment relating to the operation of a business, may, if it makes an order and if the creditor so requests, by the same judgment order the sale of the business. It shall rule in accordance with the terms of the first and second paragraphs of article L. 143-4 and shall set the time limit after which, in the absence of payment, the…

If the successful bidder fails to comply with the clauses of the auction, the business shall be sold on reiteration of the bids, in accordance with the forms prescribed by the articles L. 143-6 and L. 143-7. The defaulting successful bidder is liable to the seller’s creditors and to the seller himself for the difference between his price and the resale price upon reopening of the auction, without being able…

The separate sale of one or more parts of a registered business, either by way of seizure and sale, or pursuant to the provisions of this chapter, or pursuant to the second paragraph of article 2346 of the Civil Code, shall not take place until ten days at the earliest after notification of the proceedings to the creditors who have registered at least fifteen days prior to the said notification,…