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

No higher bid is allowed when the sale has taken place in the forms prescribed by articles L. 143-3 to L. 143-8, L. 143-10and L. 143-13 to L. 143-15.

The preferential rights of registered creditors follow the business into whatever hands it passes. When the sale of the business has not taken place by public auction in accordance with the articles mentioned in article L. 143-11 purchasers wishing to secure themselves from the proceedings of registered creditors are required, on pain of forfeiture, prior to the proceedings or within fifteen days of the summons to pay being issued to…

Any creditor registered on a business may, where article L. 143-11 does not apply, request that it be put up for sale by public auction, offering to pay the principal price, excluding equipment and goods, at one-tenth in addition and to give security for the payment of the prices and charges or to provide evidence of sufficient solvency. This requisition, signed by the creditor, must, on pain of forfeiture, be…

As from the notification of the higher bid, the purchaser, if he has regained possession of the business, is automatically the receiver and may only perform acts of administration. However, he may apply to the Commercial Court or the interim relief judge, as the case may be, at any time during the proceedings, for the appointment of another administrator. This request may also be made by any creditor. The higher…

The successful bidder is obliged to take the equipment and goods existing at the time of taking possession, at the prices set by an amicable or judicial expertise, contradictorily between the outbid buyer, his seller and the successful bidder. It is obliged, over and above its auction price, to reimburse the dispossessed purchaser for the costs and fair costs of its contract, those of notifications, those of registration and advertising…

The order of preference between creditors registered on the business and creditors registered on an element of the business is determined by the dates on which the respective titles were published. Creditors registered on the same day compete with each other.