Chapter II: Invalidity of certain acts.

I. – The following acts are void, where they have occurred since the date of cessation of payments: 1° All gratuitous deeds transferring movable or immovable property; 2° Any commutative contract in which the debtor’s obligations significantly exceed those of the other party; 3° Any payment, by whatever method, for debts not due on the day of payment; 4° Any payment for debts due, made other than in cash, commercial…

Payments for matured debts made as from the date of cessation of payments and acts for valuable consideration carried out as from that same date may be cancelled if those who dealt with the debtor were aware of the cessation of payments. Any administrative seizure, any seizure of allotment or any opposition may also be cancelled where it was issued or carried out by a creditor as from the date…

The provisions of Articles L. 632-1 and L. 632-2 do not affect the validity of the payment of a bill of exchange, promissory note or cheque. However, the administrator or the mandataire judiciaire may bring an action against the drawer of the bill of exchange or, in the case of a draw on account, against the originator, as well as against the beneficiary of a cheque and the first endorser…

The action for nullity is brought by the administrator, the mandataire judiciaire, the commissaire à l’exécution du plan or the public prosecutor. Its effect is to reconstitute the debtor’s assets.