Bankruptcy Law

An offer to take over a company in difficulty may be made at various stages of the procedure. As soon as the receivership procedure is initiated, a total or partial sale of the debtor may be proposed, provided that the offers submitted to the receiver are designed to maintain the business . The receiver must inform the person(s) appointed by the social and economic committee or the employee representative of the possibility for the employees to submit one or more offers. Then, during the observation period, the court may, if it considers that the sale of all or part of the business is conceivable, appoint a receiver, if one has not already been appointed, for the purpose of carrying out all acts necessary for the preparation of the sale and, where applicable, its completion .

590. Temporality of the measure