Bankruptcy Law

The receiver must provide the court with all information enabling it to assess the seriousness of the offer and whether the offeror is a third party within the meaning of Article L. 642-3 . The receiver must also attach all information enabling it to assess the conditions for discharging the liabilities, in particular with regard to the price offered, the residual assets to be recovered or realise …

Selection of offers

The receiver must provide the court with all information enabling it to assess the seriousness of the offer and whether the offeror is a third party within the meaning of Article L. 642-3 . The receiver must also attach all information enabling it to assess the conditions for discharging the liabilities, in particular with regard to the price offered, the residual assets to be recovered or realised, the debts from the period of continued operation and, where applicable, the other debts remaining to be borne by the debtor .

In accordance with Article L. 642-5(1) of the Commercial Code , after obtaining the opinion of the public prosecutor and hearing or duly summoning the debtor, the receiver where one has been appointed, the person or persons appointed by the social and economic committee and the controllers, the court selects the offer that best enables the employment attached to the business to be sold to be secured on the longest possible basis, the creditors to be paid and which offers the best performance guarantees. It must adopt one or more disposal plans. Discussions must be held in the presence of the public prosecutor when the procedure is opened for a debtor with more than 20 employees or a turnover excluding tax of more than EUR 3 million . In assessing the proposed price, the court must weigh up all the factors involved and take into account, in particular, the fact that the business is losing business and is subject to fierce competition .

An offer from an undertaking operating in the same business sector as the company being sold, which is a serious proposal, backed up and guaranteed by its bank, and which is genuinely feasible, should be selected, provided that it enables the employment attached to the business being sold to be secured in the best possible conditions . On the other hand, a takeover offer made in the context of a disposal plan that does not provide for the taking over of all the employees of the company being sold, even though this is a public policy requirement, cannot be accepted .

C. com. L. 642-4, para. 1, applicable to the receivership procedure by reference from art. L. 631-22 C. com.

C. com. L. 642-4, para. 2, applicable to the receivership procedure by reference to art. L. 631-22 C. com.

Applicable to the receivership procedure on reference from art. L. 631-22 C. com.

C. com. L. 642-5, para. 2 and R. 642-2, applicable to the receivership procedure by reference from art. L. 631-22 and R. 631-40 C. com.

CA Montpellier, 26 October 2010, LawLex202200009989JBJ (RJ).

CA Paris, 18 May 2017, LawLex202300002519JBJ (LJ).

Bankruptcy Law

598. Selection of offers

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Les notions juridiques connexes

598. Selection of offers

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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