Bankruptcy Law

Under the terms of Article L. 642-2, V of the Commercial Code, the takeover offer may not be modified or withdrawn, except in a way that is more favorable to the objectives of maintaining the business, all or part of the jobs attached to it, and paying off the liabilities. The offer is binding on its author until the court has decided on the plan.
Any modifications to the offers are communicated b …

Irrevocability of the offer

Under the terms of Article L. 642-2, V of the Commercial Code, the takeover offer may not be modified or withdrawn, except in a way that is more favorable to the objectives of maintaining the business, all or part of the jobs attached to it, and paying off the liabilities. The offer is binding on its author until the court has decided on the plan.

Any modifications to the offers are communicated by the receiver, if one has been appointed, to the debtor, the employees' representative and the auditors . On pain of inadmissibility, no modification may be made to an offer less than two working days before the date set for the court to examine the offers.

The offeror may not the offer withdraw. A purchaser whose bid is accepted by the court in a decision adopting the business sale plan remains bound by his or her offer  and is obliged to implement the plan, even in the event of an appeal by certain holders of the transferred contracts . A potential buyer commits a fault if he unilaterally withdraws his offer during the deliberations . However, in the event of an appeal against the judgment approving the plan, the prospective buyer may make any amendments to his bid that would improve it .

Cass. com., 9 June 1992, LawLex202300002549JBJ (RJ).

CA Versailles, 8 December 2020, LawLex202300002518JBJ (RJ).

Cass. com., 26 June 1990, LawLex202200010068JBJ (RJ).

Bankruptcy Law

882. Irrevocability of the offer

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882. Irrevocability of the offer

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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au contenu exclusif Livv – juristes d’entreprise