Bankruptcy Law

Under Article L. 644-1 of the Commercial Code, the simplified court-supervised liquidation procedure is subject to the rules governing judicial liquidation, subject to the special provisions applicable to such a procedure. 
When the liquidator draws up the inventory in accordance with Article L. 641-2, and if the value of the assets justifies it, the bankruptcy judge appoints a judicial commission …

Terms and conditions for the sale of assets

Under Article L. 644-1 of the Commercial Code, the simplified court-supervised liquidation procedure is subject to the rules governing judicial liquidation, subject to the special provisions applicable to such a procedure. 

When the liquidator draws up the inventory in accordance with Article L. 641-2, and if the value of the assets justifies it, the bankruptcy judge appoints a judicial commissioner, a notary or a sworn goods broker to carry out the valuation of the assets, in consideration of the respective powers conferred on them by the provisions applicable to them .

Under the terms of Article L. 644-2, notwithstanding the provisions of Article L. 642-1, concerning the sale of the debtor's assets, the liquidator proceeds with the sale of movable assets by private treaty or at public auction within four months of the decision ordering the simplified procedure.  He is not required to obtain authorization from the bankruptcy judge as under the ordinary law . At the end of the four-month period, the remaining assets must be sold by public auction.

CA Douai, 13 October 2009, LawLex202300007807JBJ, sanctioning the abuse of powers committed by the bankruptcy judge who had ordered the private treaty sale of a property; CA Grenoble, 4 June 2020, LawLex202300004436JBJ.

Bankruptcy Law

958. Terms and conditions for the sale of assets

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Les notions juridiques connexes

958. Terms and conditions for the sale of assets

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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