Bankruptcy Law

Introduced by the Law of 26 July 2005, the simplified court-supervised liquidation procedure is designed to enable creditors to be paid quickly and the debtor to bounce back. With a maximum duration of fifteen months, the procedure was originally optional  and, for the most part, governed by the common law court-supervised liquidation regime, with a few adaptations. To enhance its effectiveness, the Ordinance of 18 December 2008 and the PACTE Law of 22 May 2019 introduced changes to the procedure, making it compulsory when the conditions for its application are met.

Cass. avis, 10 July 2006, LawLex202200010762JBJ.

956. Reason for simplified procedure