Bankruptcy Law

The court may, in the judgment adopting the plan or amending it, decide that the assets that it deems essential for the continuation of the business may not be disposed of, for a period that it must determine, without its authorization , provided that this period does not exceed that of the plan.
Only assets that are essential to the continuation of the business may be subject to such a measure. T …

Assets essential to the continuation of the business

The court may, in the judgment adopting the plan or amending it, decide that the assets that it deems essential for the continuation of the business may not be disposed of, for a period that it must determine, without its authorization , provided that this period does not exceed that of the plan.

Only assets that are essential to the continuation of the business may be subject to such a measure. This applies to business assets, but not to real estate acquired specifically for the purpose of resale , unless the debtor itself proposes that the assets should be inalienable in order to reassure creditors and enable the court to ensure that the sale price is appropriate . Similarly, assets covered by a leasing contract that are not yet part of the debtor company's assets on the date of the judgment that must adopt the plan cannot be subject to a court-ordered inalienability order .

At the request of the commissioner for the enforcement of the plan, the measure of inalienability is mentioned in the public registers in which the assets declared inalienable and the rights which encumber them are registered or, failing this, in the registers mentioned in Article R. 621-8 , applicable to the receivership by reference to Article R. 631-7. The publication provides the duration of the inalienability. Furthermore, where the decision adopting or amending the plan orders the temporary inalienability of the debtor's movable equipment and has become res judicata, the commissioner for the enforcement of the plan requests that the inalienability measure be entered in the register provided for this purpose .

The debtor may apply to the court for authorization to dispose of an asset that he has rendered inalienable. In this case, on pain of nullity, the court decides after obtaining the opinion of the public prosecutor, in the light of the report of the commissioner for the enforcement of the plan . Its decision, notified to the debtor and communicated to the public prosecutor and the commissioner for the enforcement of the plan, is subject to the remedies provided for decisions amending the plan.

Any instrument concluded in breach of these provisions may be annulled at the request of any interested party or the public prosecutor within three years of its conclusion . Where the act is subject to publicity, the period runs from the date of publicity.

C. com. L. 626-14, para. 1, Applicable to the receivership procedure on referral from art. L. 631-19, l.

CA Bourges, 5 November 2020, LawLex202200004509JBJ (RJ).

CA Amiens, 28 April 2016, LawLex202200004506JBJ (RJ).

Cass. com., 12 July 2017, LawLex202200004499JBJ (RJ).

C. com. R. 626-25, applicable by reference to art. R. 631-35.

C. com. R. 626-26, applicable by reference to art. R. 631-35.

C. com. R. 626-31, applicable by reference to art. R. 631-35.

Bankruptcy Law

574. Assets essential to the continuation of the business

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574. Assets essential to the continuation of the business

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

Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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au contenu exclusif Livv – juristes d’entreprise