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Chapter II: The company during the observation period.

Article R622-1 of the French Commercial code

The application to modify the administrator’s mission shall be made by petition to the court, which shall rule after hearing the debtor’s observations as well as those of the administrator, the mandataire judiciaire and the public prosecutor when they are not petitioners. Any decision modifying the administrator’s mission shall be notified to the debtor. It is communicated to the persons cited in article R. 621-7and mentioned in the registers provided…

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Article R622-2 of the French Commercial code

From the opening judgment, the debtor is required to notify the administrator or, failing that, the judicial representative, of all its establishments and to facilitate access to them, to communicate the list of staff and any information enabling the wages and allowances to be paid to be determined.

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Article R622-4 of the French Commercial code

The inventory provided for in Article L. 622-6 is carried out, the debtor or his known successors, present or called. The debtor shall provide the person appointed to draw up the inventory with a list of the assets pledged, hypothecated or placed under customs subjection, as well as a list of the assets he holds in deposit, rental or leasing, or under reservation of ownership or, more generally, which are…

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Article R622-4-1 of the French Commercial code

Where the inventory is drawn up by the debtor pursuant to Article L. 622-6-1, the debtor shall keep the administrator, where one has been appointed, and the mandataire judiciaire informed of the progress of the operations. These judicial representatives as well as the official receiver and the public prosecutor may request communication of all acts or documents relating to the inventory. The debtor shall attach to the inventory the list…

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Article R622-5 of the French Commercial code

The list of creditors drawn up by the debtor in accordance with article L. 622-6 includes the name or designation, registered office or domicile of each creditor with an indication of the amount of the sums due on the day of the opening judgment, the sums due and their due date, the nature of the claim, the securities and privileges attached to each claim. It includes the purpose of the…

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Article R622-5-1 of the French Commercial code

The debtor shall inform the judicial representative of the identity of the natural persons who are co-obligated or who have granted a personal surety or who have assigned or transferred an asset as security. The judicial representative shall inform them of the possibility offered to them of requesting the benefit of the provisions of the procedure provided for in articles L. 711-1 et seq. of the Consumer Code.

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Article R622-6 of the French Commercial code

When the official receiver rules on an application for authorisation submitted by the debtor pursuant to II of Article L. 622-7, the court clerk shall summon the debtor, the administrator, where one has been appointed, the judicial representative and, where applicable, the creditors holding special security interests in the assets whose sale is envisaged. An application for authorisation of an act likely to have a decisive impact on the outcome…

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Article R622-7 of the French Commercial code

In the event of the sale of an asset referred to in the first paragraph of Article L. 622-8, the share of the price shall be remitted to the administrator or, failing that, to the judicial representative for payment to the Caisse des dépôts et consignations. The funds are unavailable during the observation period. However, provisional payments may be made under the conditions defined in the second paragraph of article…

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Article R622-8 of the French Commercial code

The official receiver shall rule on the request for substitution made in accordance with the third paragraph of article L. 622-8 after hearing the debtor, the administrator, the creditor in question and the judicial representative, or these summoned by the court clerk. Cancellations and registrations of security interests are requested by the claimant or the beneficiary upon injunction made by the juge-commissaire in his order. The related costs are borne…

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