Section 2: Provisions applicable by court order.

The liquidation of the company under the conditions provided for in articles L. 237-15 to L. 237-31 is ordered by the President of the Commercial Court, ruling in summary proceedings, at the request of the persons mentioned in the second paragraph of article L. 237-14.

The liquidation auditors are appointed by the president of the commercial court, ruling on a petition, at the request of the liquidator, or in summary proceedings, at the request of any interested party, with the liquidator duly summoned. The auditors may be chosen from among the statutory auditors registered on the list provided for in I of Article L. 822-1. In all cases, the instrument appointing the auditors is published…

In the case provided for in article L. 237-19, the liquidator is appointed by order of the president of the commercial court, ruling on a petition. Any interested party may lodge an objection to the order within fifteen days of its publication under the conditions set out in article R. 237-2. This objection is brought before the Commercial Court, which may appoint another liquidator.

Unless the deed of appointment provides otherwise, if more than one liquidator has been appointed, they may perform their duties separately. However, they shall draw up and present a joint report.

The remuneration of liquidators is set by the decision appointing them. Failing this, it is set subsequently, by the president of the commercial court, ruling on a petition, at the request of the liquidator concerned.

The president of the commercial court, ruling on a petition, is competent to take the decisions provided for in the second paragraph of Article L. 237-21, in article L. 237-23, in the third paragraph of article L. 237-24, in the second paragraph of article L. 237-25, as well as II of article L. 237-27. The president of the commercial court, ruling in summary proceedings, is competent to take the decisions…

Any decision to allocate funds is published in the medium authorised to receive legal announcements in which the publication provided for in Article R. 237-2 and, if the company’s shares are admitted to trading on a regulated market or if not all of its shares are in registered form, in the Bulletin des annonces légales obligatoires. The decision is notified individually to the holders of registered shares.

The sums allocated for distribution among the members and creditors shall be deposited, within fifteen days of the distribution decision, in an account opened in a credit institution in the name of the company in liquidation. They may be withdrawn on the signature of a single liquidator and under his responsibility.

If the sums allocated to creditors or members have not been paid to them, they shall be deposited, on expiry of the one-year period from the close of the liquidation, with the Caisse des dépôts et consignations.