French Business Law - French Legislation

Article L622-17 of the French Commercial code

November 7, 2023

I.-Debts properly arising after the opening judgment for the purposes of the conduct of the proceedings or the observation period, or in consideration for a service provided to the debtor during that period, shall be paid when due. II.-.Where they are not paid on the due date, these claims are paid by lien before all other claims, whether or not accompanied by liens or security interests, with the exception of…

Article L622-18 of the French Commercial code

November 7, 2023

Any sums collected by the administrator or the mandataire judiciaire that are not transferred to the debtor’s bank or postal accounts, for the purposes of continuing the business, must be paid immediately into a deposit account at the Caisse des dépôts et consignations. In the event of delay, the administrator or the mandataire judiciaire shall owe, for the sums that they have not paid, interest at a rate equal to…

Article L622-19 of the French Commercial code

November 7, 2023

Any sum paid by the association mentioned in article L. 143-11-4 of the Labour Code in application of Articles L. 143-11-1 to L. 143-11-3 of the same code gives rise to a declaration to the tax authorities.

Article L622-20 of the French Commercial code

November 7, 2023

The mandataire judiciaire appointed by the court has sole standing to act on behalf of and in the collective interest of the creditors. However, in the event that the mandataire judiciaire fails to act, any creditor appointed as controller may act in that interest under conditions laid down by decree in the Conseil d’Etat. The mandataire judiciaire shall be entitled to give formal notice to a partner or shareholder to…

Article L622-21 of the French Commercial code

November 7, 2023

I.-The opening judgment interrupts or prohibits any legal action on the part of all creditors whose claim is not mentioned in I of Article L. 622-17 and seeking: 1° To order the debtor to pay a sum of money; 2° To rescind a contract for failure to pay a sum of money. II.-Without prejudice to the rights of creditors whose claim is mentioned in I of Article L. 622-17, the…

Article L622-22 of the French Commercial code

November 7, 2023

Subject to the provisions of article L. 625-3, the proceedings in progress are interrupted until the pursuing creditor has declared his claim. They are then resumed ipso jure, the judicial representative and, where applicable, the administrator or the commissioner for the implementation of the plan appointed pursuant to article L. 626-25 duly called, but tend only to the establishment of claims and the fixing of their amount. The debtor, a…

Article L622-23 of the French Commercial code

November 7, 2023

Litigation and enforcement proceedings other than those referred to in Article L. 622-21 are pursued during the observation period against the debtor, after the judicial representative and the administrator have been called into question where they have a mission to assist or after proceedings have been resumed on their initiative.

Article L622-23-1 of the French Commercial code

November 7, 2023

Where assets or rights present in a fiduciary estate are the subject of an agreement under which the settlor debtor retains the use or enjoyment of such assets or rights, no assignment or transfer of such assets or rights may be made to the fiduciary or to a third party by reason only of the opening of the proceedings, the adoption of the plan or a default in payment of…

Article L622-24 of the French Commercial code

November 7, 2023

From the date of publication of the judgment, all creditors whose claims arose prior to the opening judgment, with the exception of employees, must send the judicial representative a declaration of their claims within the time limits set by decree of the Conseil d’Etat. Where the creditor has been released from foreclosure in accordance with article L. 622-26, the time limits only run from the date of notification of this…

Article L622-25 of the French Commercial code

November 7, 2023

The declaration shall state the amount of the claim due on the date of the opening judgment, with an indication of the sums due and the dates on which they fall due. It shall specify the nature and basis of the security, if any, attached to the claim and, where applicable, whether the contractual real security has been constituted on the debtor’s assets as security for the debt of a…

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French Commercial code

Article L622-17 of the French Commercial code

Article L622-18 of the French Commercial code

Article L622-19 of the French Commercial code

Article L622-20 of the French Commercial code

Article L622-21 of the French Commercial code

Article L622-22 of the French Commercial code

Article L622-23 of the French Commercial code

Article L622-23-1 of the French Commercial code

Article L622-24 of the French Commercial code

Article L622-25 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.

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We Solve Legal & Tax Issues in France

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