French Business Law - French Legislation

Article L620-2 of the French Commercial code

November 7, 2023

The safeguard procedure is applicable to any person exercising a commercial, craft or agricultural activity defined in article L. 311-1 du code rural et de la pêche maritime and, to any other natural person exercising an independent professional activity, including a liberal profession subject to a legislative or regulatory status or whose title is protected, as well as to any legal person under private law. Unless separate assets of the…

Article L621-1 of the French Commercial code

November 7, 2023

The court shall rule on the opening of proceedings, after having heard or duly called in chambers the debtor and the person or persons designated by the social and economic committee. In addition, where the debtor exercises a liberal profession subject to a legislative or regulatory status or whose title is protected, the court shall rule after having heard or duly called, under the same conditions, the professional order or…

Article L621-2 of the French Commercial code

November 7, 2023

The competent court is the commercial court if the debtor carries on a commercial or craft activity. The judicial court has jurisdiction in other cases. At the request of the administrator, the judicial representative, the debtor or the public prosecutor, the proceedings opened may be extended to one or more other persons in the event of confusion of their assets with those of the debtor or the fictitious nature of…

Article L621-3 of the French Commercial code

November 7, 2023

The judgment opens an observation period of a maximum of six months, which may be renewed once, for a maximum of six months, by a specially reasoned decision at the request of the administrator, the debtor or the public prosecutor. In the case of a farm, the court may extend the duration of the observation period depending on the current crop year and the specific practices of the farm’s productions….

Article L621-4 of the French Commercial code

November 7, 2023

In the opening judgment, the court appoints the official receiver whose duties are defined in article L. 621-9. It may, if necessary, appoint more than one. The president of the court, if he has dealt with the debtor in application of title I of this book, may not be appointed official receiver. It invites the social and economic committee to appoint a representative from among the employees of the company….

Article L621-4-1 of the French Commercial code

November 7, 2023

The court shall appoint at least a second judicial administrator and a second judicial representative in the judgment opening proceedings against a debtor where the latter: 1° Has a number of secondary establishments located within the jurisdiction of a court where it is not registered at least equal to a threshold set by regulation; 2° Or owns or controls, within the meaning of Articles L. 233-1 or L. 233-3, at…

Article L621-5 of the French Commercial code

November 7, 2023

No relative or ally, up to and including the fourth degree, of the debtor who is a natural person or of the directors, in the case of a legal person, may be appointed to one of the functions provided for in Article L. 621-4 except in cases where this provision prevents the appointment of an employee representative.

Article L621-6 of the French Commercial code

November 7, 2023

The employee representative and the employees participating in his or her appointment must not have incurred any of the convictions provided for in Article L. 6 of the Electoral Code. The employee representative must be at least eighteen years old. Disputes relating to the appointment of the employees’ representative shall fall within the jurisdiction of the judicial court, which shall have final jurisdiction.

Article L621-7 of the French Commercial code

November 7, 2023

The court may, either of its own motion or on the proposal of the official receiver or at the request of the public prosecutor, proceed with the replacement of the administrator, the expert or the official receiver or add one or more administrators or official receivers to those already appointed. The administrator, the official receiver or a creditor appointed as controller may ask the official receiver to refer the matter…

Article L621-8 of the French Commercial code

November 7, 2023

The administrator and the mandataire judiciaire shall keep the juge-commissaire and the public prosecutor informed of the progress of the proceedings. The latter may at any time request communication of all acts or documents relating to the proceedings. The Public Prosecutor’s Office shall communicate to the official receiver at the latter’s request or of its own motion, notwithstanding any legislative provision to the contrary, all information in its possession that…

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French Commercial code

Article L620-2 of the French Commercial code

Article L621-1 of the French Commercial code

Article L621-2 of the French Commercial code

Article L621-3 of the French Commercial code

Article L621-4 of the French Commercial code

Article L621-4-1 of the French Commercial code

Article L621-5 of the French Commercial code

Article L621-6 of the French Commercial code

Article L621-7 of the French Commercial code

Article L621-8 of the French Commercial code

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French Commercial code

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Contact a French Business Lawyer

Do you need French-law advice? Contact our Lawyers in France.

Our attorneys will contact you promptly within 24h. All information exchanged through this website will be communicated to attorneys only, and will remain confidential.

We Solve Legal & Tax Issues in France

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