Subsection 12: The draft plan.

The articles R. 626-1 to R. 626-3, relating to the convening of meetings, are applicable to the receivership proceedings. However, for the application of Article L. 626-3, the administrator shall convene the meetings if the managers fail to do so. For the application of the third paragraph of Article L. 631-19, the affected party that intends to submit proposals shall send these to the debtor and the administrator, by any…

When the public prosecutor requests, pursuant to Article L. 631-19-1, that the adoption of the plan be made subject to the replacement of one or more directors, it shall refer the matter to the court by a request stating the facts in support of the request. The president of the court shall have the court clerk summon the director(s) of the legal entity whose replacement is requested, at least fifteen…

The administrator, if one has been appointed, or the judicial representative convenes the competent corporate bodies to deliberate on the request for replacement. The court rules on the plan in the light of these deliberations.

The agent provided for in the second paragraph of Article L. 631-19-1 may be the court-appointed administrator.

The articles R. 626-7 and R. 626-8, relating to the consultation of creditors, and Subsection 4 of Section 1 of Chapter VI of Title II of this Book, relating to the settlement of public claims, are applicable to the receivership proceedings.

When the meetings referred to in article L. 626-3 have been called upon, in vain, to reconstitute shareholders’ equity which has fallen below half the share capital, the minutes of the deliberations shall specify, where applicable, the direction of the vote of each partner or shareholder. The attendance sheet is attached to these minutes.

The application made by the receiver in accordance with article L. 631-9-1 shall be made to the president of the court by summons from the company. The president of the court shall rule on this application by means of a summary order. The order sets the agenda for the meeting. It may be appealed.

For the application of article L. 631-9-1, meetings are convened and held in accordance with the non-contradictory provisions of Book II.