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Article L626-22 of the French Commercial code

In the event of the sale of a property subject to a special security interest or a legal mortgage, the proportion of the price corresponding to the claims secured by these security interests shall be paid into a deposit account at the Caisse des dépôts et consignations and the creditors benefiting from these security interests or holding a general lien shall be paid out of the price after payment of…

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Article L626-24 of the French Commercial code

The court may instruct the administrator to carry out the acts, necessary for the implementation of the plan, that it determines. The judicial representative remains in office for the time necessary for the verification and final establishment of the statement of claims. When the mission of the administrator and the judicial representative is completed, the proceedings are terminated under conditions set by decree in the Conseil d’Etat.

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Article L626-25 of the French Commercial code

The court shall appoint, for the term set out in Article L. 626-12, the administrator or the judicial representative as commissioner responsible for overseeing the implementation of the plan. The court may, if necessary, appoint several commissioners. At the request of the debtor, the court may entrust the administrator or the mandataire judiciaire who have not been appointed as commissioner for the implementation of the plan with a subsequent remunerated…

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Article L626-26 of the French Commercial code

A substantial modification in the objectives or means of the plan may only be decided by the court, at the request of the debtor and on the report of the commissaire à l’exécution du plan. Where the debtor’s situation allows the plan to be substantially modified to the benefit of the creditors, the application to the court may be made by the commissaire à l’exécution du plan. Where the application…

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Article L626-28 of the French Commercial code

When it is established that the undertakings set out in the plan or decided by the court have been fulfilled, the court, at the request of the commissioner for the implementation of the plan, the debtor or any interested party, shall establish that the implementation of the plan has been completed.

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