In a certain number of cases, the most common being payment default ('cessation des paiements'), the company's management is required to make a statement of default of payments before the Commercial Court within 45 days of its occurrence (French Commercial Code, Art 640-4).
The statement of default may end up with either:
- Ìý
•ÌýÌýÌýÌý a direct liquidation order, or
- Ìý
•ÌýÌýÌýÌý a restructuring order (redressement judiciaire – Arts L631-1 à L631-22 of the French commercial court)
The liquidation order will be issued if the Court rules that the company's situation
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Web page updated on 17 Mar 2025 13:42