Section 1: Preparation of the draft plan.

Applications for debt remission are examined by a commission comprising the heads of financial services and representatives of the bodies and institutions concerned. The composition and operating conditions of this commission are set by the decree no. 2007-686 of 4 May 2007instituting in each department a commission of heads of financial services and representatives of social security and unemployment insurance bodies to examine the situation of late debtors. The chairman…

The purpose of debt forgiveness is to facilitate the financial restructuring of a company in difficulty, the continuation of its economic activity and the maintenance of employment. Debt forgiveness is not justified if the business is no longer viable. It must not represent an unjustified economic advantage for the beneficiary company. The efforts of public creditors are coordinated with those of other creditors with a view to facilitating the sustainable…