Section 1: Preparation of the draft plan.

In the light of the economic, social and, where applicable, environmental assessment, the debtor, with the assistance of the administrator, shall propose a plan, without prejudice to the application of the provisions of Article L. 622-10. The draft plan mentions the commitments to make cash contributions made for the implementation of the plan. The draft plan determines the prospects for recovery based on the possibilities and terms of business, the…

When the debtor carries on an activity, benefiting from an administrative authorisation, approval, conventionnement or habilitation, mentioned in II of Article 1 of Law no. 2014-856 of 31 July 2014 relating to the social and solidarity economy, it shall consult the administrative authority or the control and pricing authority to draw up the draft plan. The administrator, where one has been appointed, shall ensure that these consultations have been carried…

Where the draft plan provides for a change in the capital or the articles of association, the extraordinary general meeting or the shareholders’ meeting and, where their approval is required, the special meetings referred to in articles L. 225-99 and L. 228-35-6 or the general meetings of the masses referred to in article L. 228-103 are convened under conditions defined by decree of the Conseil d’Etat. The court may decide…

Proposals for the settlement of debts may relate to deadlines, remissions and conversions into securities giving or capable of giving access to capital. They are, as and when they are drawn up and under the supervision of the official receiver, communicated by the administrator to the judicial representative, the auditors and the social and economic committee. Where the proposal relates to deadlines and discounts, the judicial representative shall obtain, individually…

Financial administrations, social security bodies, institutions managing the unemployment insurance scheme provided for in articles L. 351-3 et seq. of the Labour Code and the institutions governed by Book IX of the Social Security Code may agree to remit all or part of its debts to the debtor on terms similar to those that would be granted, under normal market conditions, by a private economic operator in the same situation….

The judicial representative draws up a statement of the responses made by the creditors. This statement is sent to the debtor and the administrator as well as to the supervisors.

The social and economic committee and the mandataire judiciaire shall be informed and consulted on the measures that the debtor intends to propose in the draft plan in light of the information and offers received. They shall also be informed and consulted, as well as the auditor(s), on the economic and social balance sheet and the draft plan, which shall be communicated to them by the administrator and supplemented, where…