Section 1: Transfer of the business.

The purpose of transferring the business is to ensure the maintenance of activities likely to operate independently, of all or some of the jobs attached to them and to pay off liabilities. The transfer may be total or partial. In the latter case, it relates to a set of operating elements that form one or more complete and autonomous branches of activity. Where a whole consists essentially of the right…

I.-Where the court considers that the sale of all or part of the business is conceivable, it shall authorise the business to continue and shall set the time limit within which takeover offers must reach the liquidator and the administrator where one has been appointed. However, if the offers received pursuant to article L. 631-13 or formulated as part of the steps taken by the ad hoc representative or conciliator…

The liquidator or the administrator, where one has been appointed, shall provide the court with all information required to verify the serious nature of the offer and the third-party status of its author within the meaning of the provisions of Article L. 642-3. It also provides the court with all the information it needs to assess the conditions for discharging the liabilities, in particular with regard to the price offered,…

When the debtor carries on an activity that is covered by an administrative authorisation, approval, agreement or authorisation, mentioned in the 1° or 2° of II of Article 1 of Law n°2014-856 of 31 July 2014 relating to the social and solidarity economy, the bidder shall consult the administrative authority or the control and pricing authority. The liquidator or administrator, where one has been appointed, shall ensure that this consultation…

After obtaining the opinion of the public prosecutor’s office and hearing or duly summoning the debtor, the liquidator, the administrator where one has been appointed, the person or persons appointed by the social and economic committee and the auditors, the court selects the offer that best enables the employment attached to the business to be sold to be secured in the long term, the creditors to be paid and which…

A substantial change in the objectives and means of the plan may only be decided by the court, at the request of the transferee. The court shall rule after hearing or duly summoning the liquidator, the court-appointed administrator where one has been appointed, the auditors, the person or persons appointed by the social and economic committee and any interested person and after obtaining the opinion of the public prosecutor. However,…

The court shall determine the leasing, rental or supply contracts for goods or services necessary to maintain the business in the light of the observations of the debtor’s co-contractors transmitted to the liquidator or the administrator where one has been appointed. The judgment adopting the plan entails the assignment of these contracts, even where the assignment is preceded by the management lease provided for in Article L. 642-13. These contracts…

In execution of the plan approved by the court, the liquidator or the administrator, where one has been appointed, shall take all necessary steps to complete the transfer. Pending the completion of these acts and upon proof of the deposit of the transfer price or an equivalent guarantee, the court may entrust the transferee, at its request and under its responsibility, with the management of the transferred business. Where the…

As long as the sale price has not been paid in full, the transferee may not, with the exception of stocks, dispose of or lease under management the tangible or intangible assets it has acquired. However, their total or partial disposal, assignment as security, lease or lease under management may be authorised by the court after a report by the liquidator, who must first consult the social and economic committee….