French Business Law - French Legislation

Article R626-58-1 of the French Commercial code

November 5, 2023

The status of affected party and the methods for dividing into classes and calculating the votes corresponding to claims or rights allowing a vote to be cast may be contested by each affected party, the debtor, the administrator, the mandataire judiciaire and the public prosecutor. The official receiver shall be informed of this challenge by petition within ten days of the notification provided for in the first paragraph of Article…

Article R626-59 of the French Commercial code

November 5, 2023

The administrator invites the court-appointed agent and the representatives of the staff delegation of the social and economic committee to present their observations to each of the classes before they decide on the draft plan.

Article R626-60 of the French Commercial code

November 5, 2023

Without prejudice to the provisions of articles R. 626-61 and R. 626-62, the director alone is competent to decide on the procedures for convening classes. He alone shall also be competent to decide on the procedures for the conduct of voting by the classes, with the exception of classes of holders of capital, which shall act under the conditions provided for in Article L. 626-30-2. If the Board decides, in…

Article R626-61 of the French Commercial code

November 5, 2023

For the application of V of Article L. 626-30 and Article L. 626-30-2, the bondholders are, where applicable, divided into one or more classes of affected parties. A notice convening the bondholders is published, at the administrator’s initiative, in a medium authorised to carry legal advertisements in the département in which the debtor’s registered office is located and, in addition, if the debtor has made a public offering or if…

Article R626-62 of the French Commercial code

November 5, 2023

I. – For the purposes of V of Article L. 626-30 and Article L. 626-30-2, the holders of capital shall be allocated to one or more classes of affected parties and convened in accordance with the provisions of Book II, subject to the provisions of this Article. I. II. – The period between the date either of the insertion or of the last of the insertions containing a notice of…

Article R626-63 of the French Commercial code

November 5, 2023

The thresholds set pursuant to a of 5° of Article L. 626-32 are: 1° 250 employees and 20 million euros in net sales; or 2° 40 million euros in net sales. These thresholds are assessed on the date of the application to initiate proceedings.

Article R626-64 of the French Commercial code

November 5, 2023

I. – At the latest within ten days of the vote of the classes on the draft plan, the affected party, who voted against the draft plan and who intends to contest compliance with the condition provided for in 4° of Article L. 626-31 or the fifth or tenth paragraph of Article L. 626-32, shall refer the matter to the court by petition filed with the clerk’s office against receipt….

Article D626-65 of the French Commercial code

November 5, 2023

The draft plan provided for in Article L. 626-30-2 must include at least the following information: 1° The identity of the debtor; 2° The debtor’s assets and liabilities at the time the restructuring plan is submitted, including the net book value of the assets, a description of the debtor’s economic situation and the situation of its employees, and a description of the causes and extent of the debtor’s difficulties; 3°…

Article R627-1 of the French Commercial code

November 5, 2023

In the absence of an administrator, the co-contractor shall send the debtor the formal notice provided for in Article L. 622-13, by registered letter with acknowledgement of receipt. He shall simultaneously inform the mandataire judiciaire by sending him a copy of this formal notice by registered letter with acknowledgement of receipt. The mandataire judiciaire must, without delay, inform the debtor and the co-contractor of his opinion. Failing a response from…

Article R628-1 of the French Commercial code

November 5, 2023

The accelerated safeguard procedure is subject to the regulatory provisions applicable to the safeguard procedure with the exception of articles R. 621-20, R. 621-26, R. 622-11, R. 622-13, R. 626-17, R. 626-18 and R. 626-22 and Section 3 of Chapter IV and subject to the provisions of this chapter.

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Regulatory part

Article R626-58-1 of the French Commercial code

Article R626-59 of the French Commercial code

Article R626-60 of the French Commercial code

Article R626-61 of the French Commercial code

Article R626-62 of the French Commercial code

Article R626-63 of the French Commercial code

Article R626-64 of the French Commercial code

Article D626-65 of the French Commercial code

Article R627-1 of the French Commercial code

Article R628-1 of the French Commercial code

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