Prohibition of the commissary pact | Bankruptcy Law (2.2.5.3.II) • Livv

186. Prohibition of the commissary pact

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Under Article L. 622-7, I(3) of the Commercial Code, the opening judgment of the safeguard procedure precludes the conclusion and enforcement of a commissary pact. Article 2348 of the Civil Code defines this as an agreement or clause by which, at the time of the creation of the pledge or subsequently, the creditor will become the owner of the pledged asset if the secured obligation is not fulfille …

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Les notions juridiques connexes

Right of retention of non-possessory pledgee unenforceable
Sale of a secured asset
Substitution of securities

186. Prohibition of the commissary pact

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Les notions juridiques connexes

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