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Article L611-14 of the French Commercial code

After having obtained the agreement of the debtor and, in the event of recourse to conciliation and to an agent for the execution of the agreement, the opinion of the public prosecutor under the conditions laid down by decree in the Conseil d’Etat, the president of the court sets, at the time of their appointment, the conditions for the remuneration of the ad hoc agent, the conciliator, the agent for…

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Article L611-16 of the French Commercial code

Any clause which modifies the conditions for continuing a current contract by reducing the debtor’s rights or increasing his obligations solely as a result of the appointment of a mandataire ad hoc pursuant to article L. 611-3 or the opening of conciliation proceedings pursuant to article L. 611-6 or a request made to that end. Any clause charging the debtor, solely as a result of the appointment of a mandataire…

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Article L612-1 of the French Commercial code

Non-trading legal entities governed by private law with an economic activity whose number of employees, pre-tax turnover or resources and balance sheet total exceed, for two of these criteria, thresholds set by decree in the Conseil d’Etat, must draw up a balance sheet, profit and loss account and notes to the accounts each year. The procedures for drawing up these documents are specified by decree. These legal entities are required…

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Article L612-2 of the French Commercial code

Non-trading private-law legal entities with an economic activity whose number of employees, pre-tax turnover or resources exceed a threshold defined by decree in the Conseil d’Etat, are required to draw up a statement of realisable and available assets, excluding going concern values, and current liabilities, a provisional income statement, a cash flow statement and a financing plan. The frequency, deadlines and procedures for drawing up these documents are specified by…

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Article L612-3 of the French Commercial code

When the statutory auditor of a legal entity referred to in Articles L. 612-1 and L. 612-4 identifies, in the course of carrying out his assignment, facts likely to jeopardise the continued operation of that legal entity, he shall inform the managers of the legal entity in accordance with conditions set by decree in the Conseil d’Etat. If no response is received within a period set by decree in the…

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Article L612-4 of the French Commercial code

Any association having received annually from the administrative authorities, within the meaning of l’article 1er de la loi du 12 avril 2000, ou des établissements publics à caractère industriel et commercial une ou plusieurs subventions en numéraire dont le montant global dépasse un seuil fixé par décret, doit établir des comptes annuels comprenant un bilan, un compte de résultat et une annexe dont les modalités d’établissement sont fixés par décret….

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Article L612-5 of the French Commercial code

The legal representative or, if there is one, the statutory auditor of a non-trading private-law legal entity with an economic activity or of an association referred to in article L. 612-4 presents to the deliberative body or, in the absence of a deliberative body, attaches to the documents communicated to members a report on agreements entered into directly or through an intermediary between the legal entity and one of its…

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Article L620-1 of the French Commercial code

A safeguard procedure is instituted at the request of a debtor referred to in article L. 620-2 who, without being in cessation of payments, demonstrates difficulties that it is unable to overcome. These proceedings are designed to facilitate the reorganisation of the company in order to allow the continuation of economic activity, the maintenance of employment and the discharge of liabilities. The safeguard proceedings give rise to a plan adopted…

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