Bankruptcy Law

In accordance with Article L. 631-4 of the Commercial Code, the debtor must request the opening of the receivership procedure no later than forty-five days after the cessation of payments, if he has not requested the opening of the conciliation procedure within this period. The debtor is not exempted from requesting the opening of the insolvency procedure within this time-limit by the fact that a  …

Time-limit to declare

In accordance with Article L. 631-4 of the Commercial Code, the debtor must request the opening of the receivership procedure no later than forty-five days after the cessation of payments, if he has not requested the opening of the conciliation procedure within this period. The debtor is not exempted from requesting the opening of the insolvency procedure within this time-limit by the fact that a creditor has summoned him for this purpose .

Trial courts consider that a company manager's declaration of cessation of payments is late when he could not have been unaware for more than a year of the extent of his liabilities, the negative state of his working capital and the structural handicap of his cash flow . Similarly, a company manager who fails to declare cessation of payments within the legal time-limit commits a fault which cannot be assimilated to simple negligence, when he has been warned by an accounting firm of his negative results and of the time-limit for making this declaration .

A debtor who knowingly fails to request the opening of receivership procedure within forty-five days of the cessation of payments, without having also requested the opening of conciliation procedure, is subject to the sanction of a management ban, pronounced on the basis of Article L. 653-8 of the Commercial Code .

Cass. com., 14 January 2014, LawLex202100001897JBJ (RJ).

CA Metz, 7 July 2015, LawLex202200006525JBJ (LJ).

CA Angers, 24 November 2020, LawLex202200006527JBJ (RJ).

See infra, Chapter 3 of Title 3 of Part 4 of the book. See for an application, Cass. com. 7 November 2018, LawLex202100001971JBJ; 16 January 2019, LawLex202100005353JBJ.

Bankruptcy Law

312. Time-limit to declare

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312. Time-limit to declare

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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