Bankruptcy Law

Article L. 661-1, 6° of the Commercial Code allows the debtor, the receiver, the legal representative, the social and economic committee or, in companies with less than fifty employees, the members of its staff delegation and the public prosecutor, to appeal or appeal to the Court of Cassation against decisions ruling on the adoption of the safeguard plan. Decisions adopting the safeguard plan, as …

Remedies

Article L. 661-1, 6° of the Commercial Code allows the debtor, the receiver, the legal representative, the social and economic committee or, in companies with less than fifty employees, the members of its staff delegation and the public prosecutor, to appeal or appeal to the Court of Cassation against decisions ruling on the adoption of the safeguard plan. Decisions adopting the safeguard plan, as opposed to those rejecting it, are also subject to third-party objection under Article L. 661-3 of the Commercial Code. The judgment ruling on the third-party objection may be called upon and appealed to the appeal court by the opposing party.

A third-party objection by a creditor against the judgment adopting the safeguard plan of his debtor is admissible only if he shows that it was rendered in fraud of his rights or if he puts forward a specific plea, which cannot aim at contesting an effect inherent to the procedure, nor be common to all the creditors, as are the challenges relating to the lateness and the terms of the plan . Thus, a partner of a debtor company is entitled to file a third-party objection against the plan that affects her status as a partner and her preferential subscription right, provided that such a plea is specific to her . On the other hand, a company's third-party objection to the judgment adopting the safeguard plan of its debtor is inadmissible, since, based on the absence of a serious possibility of reorganization, it does not present any plea of its own .

Cass. com., 16 June 2021, LawLex202100005906JBJ (S).

Cass. com., 31 March 2021, LawLex202100005816JBJ (RJ).

Cass. com., 26 January 2016, LawLex202100002216JBJ (S).

Bankruptcy Law

268. Remedies

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Les notions juridiques connexes

268. Remedies

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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