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Article L742-7 of the French Consumer Code

The opening judgment entails, until the closing judgment, the suspension and prohibition of enforcement proceedings initiated against the debtor’s assets as well as assignments of remuneration granted by the debtor and relating to debts other than maintenance debts. It also suspends measures for eviction from the debtor’s home, with the exception of those based on an auction judgement issued in respect of seizure of property as well as those ordered…

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Article L742-10 of the French Consumer Code

Creditors lodge their claims in accordance with the conditions laid down by decree in the Conseil d’Etat; claims that have not been lodged within a period set by this decree are extinguished, unless the judge grants a discharge. The trustee draws up an assessment of the debtor’s economic and social situation, verifies the claims and evaluates the assets and liabilities. With effect from the judgment opening the proceedings, the debtor…

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Article L742-14 of the French Consumer Code

The judge shall order the judicial liquidation of the debtor’s assets, excluding the unseizable assets listed in article L. 112-2 of the code des procédures civiles d’exécution as well as assets whose sale costs would be manifestly disproportionate to their market value and non-professional assets essential to the debtor’s professional activity.

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Article L742-15 of the French Consumer Code

The judgment pronouncing the liquidation automatically divests the debtor of the disposal of his assets. His rights and actions in respect of his personal assets shall be exercised throughout the liquidation by the liquidator.

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