French Business Law - French Legislation

Article D626-10 of the French Commercial code

November 5, 2023

Debts eligible for remission correspond to: 1° To penalties, late payment interest, default interest, tax or customs fines, surcharges, prosecution costs, regardless of the tax or miscellaneous State budget product to which these penalties or costs apply ; 2° Aux majorations de retard, frais de poursuite, pénalités et amendes attachés aux cotisations et contributions sociales recouvrées par les organismes de sécurité sociale et par les institutions régies par le livre…

Article D626-11 of the French Commercial code

November 5, 2023

Debts due on the date of receipt of the application for remission, valid as a referral to the commission mentioned in Article D. 626-14, and due to the administrations, bodies and institutions mentioned in article D. 626-9.

Article D626-12 of the French Commercial code

November 5, 2023

If conciliation proceedings are opened, the debtor or the conciliator refers the request for debt remission to the commission mentioned in article D. 626-14, including by electronic means. This referral must be made within five months of the date on which the procedure is opened, failing which it will be time-barred. It may not be made after the end of the proceedings. A.-This application shall be accompanied or supplemented by…

Article D626-13 of the French Commercial code

November 5, 2023

In the event of the opening of safeguard or receivership proceedings, the court-appointed administrator or the judicial representative shall refer, including by dematerialised means, the application for debt remission to the commission mentioned in Article D. 626-14 . This referral must be made, under penalty of foreclosure, within six months of the date on which the proceedings are opened. It may not be made after the end of the proceedings….

Article D626-14 of the French Commercial code

November 5, 2023

Applications for debt remission are examined by a commission comprising the heads of financial services and representatives of the bodies and institutions concerned. The composition and operating conditions of this commission are set by the decree no. 2007-686 of 4 May 2007instituting in each department a commission of heads of financial services and representatives of social security and unemployment insurance bodies to examine the situation of late debtors. The chairman…

Article D626-15 of the French Commercial code

November 5, 2023

The purpose of debt forgiveness is to facilitate the financial restructuring of a company in difficulty, the continuation of its economic activity and the maintenance of employment. Debt forgiveness is not justified if the business is no longer viable. It must not represent an unjustified economic advantage for the beneficiary company. The efforts of public creditors are coordinated with those of other creditors with a view to facilitating the sustainable…

Article R626-17 of the French Commercial code

November 5, 2023

As soon as the draft plan is filed with the registry by the debtor, the registrar convenes, by registered letter with acknowledgement of receipt, the debtor, the representatives of the staff delegation of the social and economic committee and the auditors. The public prosecutor as well as the administrator and the judicial representative are notified of the date of the hearing.

Article R626-18 of the French Commercial code

November 5, 2023

The court shall rule before the expiry of the periods provided for in Article L. 621-3. When a draft plan is not presented in due time, the court may be asked to close the proceedings by the public prosecutor, by any creditor or by the legal representatives. It shall rule, the debtor having been heard or called. The judgment of closure is notified to the debtor and is subject to…

Article R626-19 of the French Commercial code

November 5, 2023

The thresholds set pursuant to Article L. 626-9 beyond which the debates relating to the adoption of the plan must take place in the presence of the public prosecutor are those set out in article R. 621-11.

Article R626-20 of the French Commercial code

November 5, 2023

The judgment adopting the plan is communicated by the registrar to the persons mentioned in 3° of Article R. 621-7 and is the subject of the advertisements provided for in Article R. 621-8. If the plan is still in progress at the end of a period of two years from the date it was approved, the information relating to the procedure and the implementation of the plan shall, at the…

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French Commercial code

Article D626-10 of the French Commercial code

Article D626-11 of the French Commercial code

Article D626-12 of the French Commercial code

Article D626-13 of the French Commercial code

Article D626-14 of the French Commercial code

Article D626-15 of the French Commercial code

Article R626-17 of the French Commercial code

Article R626-18 of the French Commercial code

Article R626-19 of the French Commercial code

Article R626-20 of the French Commercial code

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French Commercial code

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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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