Procedures Guide

The Procedures guide allows entrepreneurs and decision-makers to have a reliable, precise and up to date overview of legal procedures and measures concerning commercial formalities to be undertaken. It is broken down into 6 sections in which you can find information and documentation required for formalities with Registry Offices at the Commercial Courts.

Declaration of indebtedness to the court-appointed representative

Within a period of two months from publication in the BODACC (Official journal of civil and commercial announcements) of the opening judgement (for protection, receivership or mandatory liquidation), the creditors shall address their debt declarations to the court-appointed representative. Texts: Articles L. 622-24, L. 622-25, L.631-14 al. 1, L. 641-3 al. 4; R. 622-21 through R. 622-24, R. 631-27 and R. 641-25 of the Commercial Code.

When the debtor brings an indebtedness to the attention of the court-appointed representative, it is deemed to have been for the account of the creditor if the latter has not sent a declaration of indebtedness.

The declaration of indebtedness interrupts any lapse until the closing date of the proceeding; it is exempt from service of process and is equivalent to prosecution.

In the absence of declaration during the legal period, the creditor may request to be relieved from failure to timely file within the period of six months from publication in BODACC (under certain circumstances: cf. Articles L. 622-26 and R. 622-25 of the Commercial Code with respect to protection; L. 622-26, L. 631-14 al. 1 R. 622-25 and R. 631-27 of the Commercial Code with respect to receivership; L. 622-26, L. 641-3 al. 4 R. 622-25 and R. 641-25 of the Commercial Code with respect to mandatory liquidation).

Within the framework of protection proceedings or of receivership, in the event of default in declaration or absence of retrieval from untimely filing, the indebtedness is unenforceable against the debtor during execution through end of the plan, when the commitments referenced in the plan have been respected (Art. L. 622-26 al. 2 of the Commercial Code with respect to protection; L. 622-26 al. 2 and L. 631-14 al. 1 of the Commercial Code with respect to receivership). Within the framework of mandatory liquidation, in the event of default in declaration or of absence of retrieval from untimely filing, the indebtedness is not extinguished, however the creditor does not participation in distributions made during the procedure.