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Chapter I: Liability for insufficient assets.

Article R651-4 of the French Commercial code

For the application of article L. 651-3, the formal notice given to the court-appointed agent to initiate the liability action is delivered by at least two supervising creditors. Their action is admissible only if this formal notice, sent to the judicial representative by registered letter with acknowledgement of receipt, has remained unsuccessful for two months from receipt of the formal notice. .

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Article R651-5 of the French Commercial code

For the application of article L. 651-4, the judge appointed by the president of the court may be assisted by any person of his choice, whose findings are recorded in his report. This report is filed at the court registry and communicated by the court clerk to the public prosecutor. At least one month before the date of the hearing, the clerk of the court communicates this report to the…

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Article R651-6 of the French Commercial code

When a director of a legal entity or an entrepreneur is already subject to safeguard, receivership or liquidation proceedings, the amount of the liabilities to be borne by the legal entity or entrepreneur is determined after the judicial representative or liquidator appointed in the proceedings to which the legal entity or entrepreneur is subject has been called into question. The decision to condemn the debtor is entered by the court…

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