Article R642-32 of the French Commercial code
November 5, 2023
Before the opening of the auction, the notary shall be provided by the bidders with an irrevocable bank guarantee or a bank cheque in accordance with Article R. 322-41 of the code des procédures civiles d’exécution. Where the successful bidder defaults, the sum paid or the security provided is acquired for distribution with the assets realised. The notary points out that bids will start from the amount of the upset…
