Chapter I: Judgment of compulsory liquidation.

I.-A judgement opening or pronouncing a judicial liquidation automatically divests the debtor, from the date of the judgement, of the administration and disposal of his assets comprising the assets incurred by the professional activity, even those he has acquired in any capacity whatsoever, for as long as the judicial liquidation is not closed. The debtor’s rights and actions concerning his assets are exercised throughout the duration of the judicial liquidation…

If the sale of all or part of the business is conceivable or if the public interest or that of the creditors so requires, the continuation of the business may be authorised by the court for a maximum period set by decree in the Conseil d’Etat. It may be extended at the request of the public prosecutor for a period set by the same decree. In the case of a…

The official receiver exercises the powers vested in him by articles L. 621-9, and L. 623-2 and by the fourth paragraph of article L. 622-16. It sets the remuneration relating to the duties performed by the debtor if it is a natural person or the managers of the legal entity and exercises the powers devolved to it by the second paragraph of article L. 631-11. If he is unable to…

I. – Notwithstanding any legal provision or any contractual clause, no indivisibility, termination or resolution of a contract in progress may result solely from the opening or pronouncement of a judicial liquidation. The co-contractor must fulfil its obligations despite the debtor’s failure to perform commitments made prior to the opening judgment. Failure to perform these commitments only gives rise to a right in favour of the creditors to a declaration…

Without prejudice to the application of I and II of Article L. 641-11-1, the termination of the lease of buildings used for the company’s business takes place under the following conditions: 1° On the day the lessor is informed of the liquidator’s decision not to continue the lease; 2° When the lessor applies for judicial termination or has the lease terminated by operation of law for reasons prior to the…

If the debtor is the settlor and sole beneficiary of a trust contract, the opening or pronouncement of a judicial liquidation in respect of the debtor automatically terminates the trust contract and returns to the debtor’s patrimony the rights, assets or securities present in the trust patrimony.

I.-Receivables that regularly arise after the judgment opening or pronouncing the judicial liquidation shall be paid on their due date: -if they arise for the purposes of the conduct of the proceedings or the provisional maintenance of the business authorised pursuant to article L. 641-10 ; -if they have arisen in consideration of a service provided to the debtor during the maintenance of the business or in performance of a…

The provisions of 2° and 3° of III of Article L. 622-17, those of Chapters IV, with the exception of those of Article L. 624-17, and V of Title II of this Book relating to the determination of the debtor’s assets and the settlement of claims arising from employment contracts, as well as the provisions of Chapter II of Title III of this Book relating to the nullity of certain…

The liquidator, with the agreement of the administrator, if one has been appointed, may acquiesce in a claim for revendication or restitution of an asset mentioned in Section 3 of Chapter IV of Title II of this Book. Failing agreement between them or in the event of a dispute, the claim shall be brought before the juge-commissaire who shall rule in the light of the observations of the claimant, the…

During the judicial liquidation proceedings, the official receiver may order that the liquidator or the administrator, where one has been appointed, be the addressee of mail addressed to the debtor. The debtor, informed in advance, may attend the opening of the mail. However, a summons to appear before a court, notification of decisions or any other mail of a personal nature must be immediately delivered or returned to the debtor….