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Bankruptcy Law

Auteur : Louis Vogel

Sommaire de l’ouvrage
  • Introduction

  • Part 3: Judicial receivership

    • Title 2: Observation period

      • Chapter 2: Inventory

      • Chapter 4: Treatment of company creditors

        • Section 1: Prior creditors

          • II: Stay of individual proceedings and enforcement procedures

            • A: Proceedings must be adopted

              • 1°: Claims concerned

              • 2°: Actions concerned

                • a): Actions for payment of a sum of money

                • b): Actions for rescission for non-payment of a sum of money

                • c): Actions against natural persons who are co-guarantors or guarantors

              • 3°: Proceedings must be adopted

            • B: Enforcement and distribution procedures must be adopted

            • D: Repossession for determination of the amount of the claim

      • Chapter 8: Closure for the purpose of paying off creditors

    • Title 3: Drawing up the economic, social and environmental balance sheet

397. Protection of co-obligated or guarantor natural persons

1 minute de lecture

Initially, only natural persons benefited from the “stay of individual lawsuits and enforcement proceedings” rule. In 2005 , this rule was extended to co-obligators and independent guarantors, and in 2008 , to persons who have assigned or transferred an asset as security. As company managers are most often guarantors of their company's debts, the aim of this provision is to protect them and thus …

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