Bankruptcy Law

In order to prevent an increase in the debtor's liabilities, Article L. 622-28 of the Commercial Code, which applies to the receivership procedure on the basis of Article L. 631-14, requires that legal and contractual interest, as well as all late payment interest and surcharges, must be stopped as soon as the receivership is opened. The suspension provided for in the text is definitive: the accru …

Interest on prior claims

In order to prevent an increase in the debtor's liabilities, Article L. 622-28 of the Commercial Code, which applies to the receivership procedure on the basis of Article L. 631-14, requires that legal and contractual interest, as well as all late payment interest and surcharges, must be stopped as soon as the receivership is opened. The suspension provided for in the text is definitive: the accrual of interest cannot resume after the judgment adopting the continuation plan .

The rule applies only to claims prior to the judgment opening the insolvency proceedings, and not to subsequent privileged claims , so that it does not apply to the claim of the seller, who is the holder of a retention of title clause (clause de réserve de propriété), where the goods, which existed in kind on the date of that judgment, have subsequently been resold . On the other hand, employee claims that arose prior to the opening judgment may not accrue interest at the statutory rate from that date . Similarly, the opening judgment must stops definitively the accrual of interest on claims for compensation for redundancy without real and serious cause  and on wage claims arising from the redundancy of an employee for gross misconduct , which arose prior to the insolvency procedure. Furthermore, Article L. 622-28 only applies to interest that has fallen due: interest that has fallen due prior to the date of the opening judgment is not subject to the suspension of the accrual of interest .

In application of the rule that the accrual of interest must be halted, the fixing of a prior claim against the debtor company's receivership liabilities cannot be subject to interest at the statutory rate . Lastly, the revocation of a judgment opening an insolvency procedure retroactively deprives the latter of all its effects, including that of the suspension of the accrual of interest .

See by analogy, Cass. com., 10 December 1996, LawLex202100002797JBJ (RJ) ; 10 December 2002, LawLex202200002778JBJ (RJ).

Cass. com., 20 June 2000, LawLex202200002763JBJ (LJ).

Cass. com., 11 July 1995, LawLex202200002762JBJ (RJ).

Cass. soc., 7 January 1992, LawLex202200002761JBJ (RJ).

Cass. soc., 13 January 1999, LawLex202100003734JBJ (RJ) ; 13 June 2001, LawLex202100003735JBJ (LJ).

Cass. soc., 23 November 1999, LawLex202200002783JBJ (LJ).

Cass. com., 28 May 2013, LawLex202100002798JBJ (RJ).

Cass. com., 24 May 2016, LawLex202100002650JBJ (RJ).

Cass. com., 17 October 2018, LawLex202100002210JBJ (S).

Bankruptcy Law

455. Interest on prior claims

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

455. Interest on prior claims

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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au contenu exclusif Livv – juristes d’entreprise