Section 2: Failure to open secondary insolvency proceedings on the national territory

The insolvency practitioner in the main insolvency proceedings who proposes to give a commitment pursuant to Article 36 of the aforementioned Regulation (EU) No 2015/848 shall obtain the agreement of all local creditors affected by that commitment, including the guarantee institutions referred to in Article L. 3253-14 of the Labour Code. On this occasion, it informs each creditor concerned of the characteristics of its claim. The insolvency practitioner communicates the…

I.-The insolvency practitioner in the main insolvency proceedings shall apply to the president of the specially designated commercial court or the competent judicial court within whose jurisdiction the establishment is located for the purpose of verifying the conditions for approval of the undertaking. The undertaking may only be executed in accordance with the order issued by the president. II.-The opening of secondary insolvency proceedings may no longer be requested after…

The judgment which rules on the applications of local creditors seeking, on the basis of Article 36(9) of the aforementioned Regulation (EU) No 2015/848, provisional or protective measures to ensure compliance with the terms of the undertaking by the insolvency practitioner of the main insolvency proceedings may be appealed by that practitioner, the debtor in possession, the applicant local creditor and the public prosecutor. Where appropriate, the insolvency practitioner of…