Bankruptcy Law

Article L. 626-2 of the Commercial Code, which applies to the receivership procedure on the basis of Article L. 631-19, defines the contours of the draft plan. The draft plan must include commitments to make cash injections in order to implement the plan, and determine the prospects for receivership based on business opportunities and methods, the state of the market and available financing. It mu …

Content of the draft plan

Article L. 626-2 of the Commercial Code, which applies to the receivership procedure on the basis of Article L. 631-19, defines the contours of the draft plan. The draft plan must include commitments to make cash injections in order to implement the plan, and determine the prospects for receivership based on business opportunities and methods, the state of the market and available financing. It must also define the terms and conditions for settling liabilities and any guarantees that the debtor undertakes to provide to ensure performance.

The draft plan sets out and justifies the level and prospects of employment and the social conditions envisaged for the continuation of the business. Pursuant to Article L. 631-19, III(2) it must indicate the redundancies that must take place within one month of the judgment, upon simple notification by the receiver, subject to the rights of notice provided by law or collective labor agreements. Where a job protection plan must be drawn up, the receiver is required to implement the procedure provided for in II of article L. 1233-58 of the Labor Code within one month of the judgment. The eight-day period referred to in II of the same article runs from the date of receipt of the request, which is subsequent to the judgment adopting the plan. If the dismissal concerns a protected employee, the intention to terminate the employment relationship must be expressed within one month.

Lastly, the plan must also list, append and analyze acquisition offers for one or more activities submitted by third parties and indicate the activity or activities that it suggests be discontinued or added .

Bankruptcy Law

548. Content of the draft plan

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Les notions juridiques connexes

548. Content of the draft plan

Demandez un accès gratuit au contenu exclusif Livv – juristes d’entreprise

Les notions juridiques connexes

Demandez un accès gratuit
au contenu exclusif Livv – juristes d’entreprise