Section 5: Economic redundancies in the context of safeguarding, reorganisation or compulsory liquidation.

I.-In the event of receivership or compulsory liquidation, the employer, administrator or liquidator, as the case may be, who envisages redundancies, implements a redundancy plan under the conditions set out in articles L. 1233-24-1 to L. 1233-24-4. The employer, administrator or liquidator, as the case may be, convenes and consults the social and economic committee under the conditions set out in article L. 2323-31 and in articles : 1° L….

The deadlines provided for in article L. 1233-15 for sending letters of dismissal for economic reasons are not applicable in the event of receivership or compulsory liquidation. A decree of the Conseil d’Etat shall determine the application of this article.

In the event of receivership or compulsory liquidation, the employer, administrator or liquidator, as the case may be, shall inform the administrative authorities before making any redundancies for economic reasons, in accordance with the conditions set out in Articles L. 631-17, L. 631-19 (II), L. 641-4, last paragraph, L. 641-10, third paragraph, and L. 642-5 of the French Commercial Code.

In the event of receivership or compulsory liquidation, where the employer is considering modifying an essential element of the employment contract for one of the economic reasons set out in article L. 1233-3, he shall make the proposal to the employee by registered letter with acknowledgement of receipt. The letter of notification informs the employee that he has a period of fifteen days from receipt to make known his refusal….