Chapter IV: Simplified judicial liquidation.

Simplified judicial liquidation proceedings are subject to the rules governing judicial liquidation, subject to the provisions of this chapter.

When the liquidator carries out the inventory pursuant to article L. 641-2 and if the value of the assets justifies it, the official receiver shall appoint, for the purpose of carrying out the valuation of the assets, one of the persons mentioned in the last paragraph of II of Article L. 641-1.

As an exception to the provisions of Article L. 642-19, where the simplified procedure is decided pursuant to Article L. 641-2, the liquidator shall sell the movable assets by mutual agreement or at public auction within four months of the decision ordering the simplified procedure. At the end of this period, the remaining assets shall be sold at public auction.

As an exception to the provisions of Article L. 641-4, the only claims likely to rank in order of importance in the distributions and claims arising from an employment contract are verified.

At the end of the procedure for verification and admission of claims as provided for in Article L. 644-3 and the realisation of assets, the liquidator shall include his proposals for distribution on the statement of claims. He shall assess the amount of the legal costs mentioned in 3° of I of Article L. 643-8 that are foreseeable. This completed statement is filed with the registry and published. However, if…

The court shall pronounce the closure of the judicial liquidation at the latest within six months of the decision ordering or deciding on the application of the simplified procedure, with the debtor heard or duly summoned. This period is extended to one year when the number of the debtor’s employees and its turnover excluding tax exceed thresholds set by decree. The court may, by a specially reasoned ruling, extend the…

At any time, the court may decide, in a specially reasoned judgment, to no longer apply the derogations provided for in this chapter.