Bankruptcy Law

Creditors must declare all their claims, even if they are not yet due on the date of the declaration. Claims that have not been established by a document of title, and whose amount has not yet been fixed, must be declared on the basis of an assessment. In such cases, the creditor must exercise restraint, as case law holds that anyone who declares a claim that is out of all proportion to the possib …

Nominal amount and interest

Creditors must declare all their claims, even if they are not yet due on the date of the declaration. Claims that have not been established by a document of title, and whose amount has not yet been fixed, must be declared on the basis of an assessment. In such cases, the creditor must exercise restraint, as case law holds that anyone who declares a claim that is out of all proportion to the possible extent of his loss is guilty of abuse .

Article L. 622-25 of the Commercial Code  provides that the declaration must concern the amount of the claim due on the date of the opening judgment, with an indication of sums due for payment and their due dates. It must also contain the method of calculating interest which has not yet been stopped, this indication being deemed to constitute a declaration for the amount subsequently adopted . A statement of claim which does not itself provide any details of the method of calculating interest for late payment, or an express reference to a statement setting out the method of calculation, cannot be considered to be a declaration of interest for which the rate has not yet been fixed . The mere mention, in a declaration of claim, of the principal amount of the claim “plus interest ” , or of “interest under Article L. 622-28 of the Commercial Code” , cannot, in the absence of any details on the method of calculating interest in the statement or by express reference to an attached document, constitute a declaration of interest whose rate has not yet been fixed. On the other hand, the fact that the bankruptcy judge asked the creditor to produce various supporting documents concerning the amounts actually paid to the debtor on the loans granted, the repayments made and the interest received, does not call into question the legality of his declaration of claims . Furthermore, the irregularity of a declaration of claim due to the presentation of sums declared as due when they are not, is not sanctioned by the extinction of the claim when the creditor has unequivocally expressed his intention to claim sums due and to fall due, in addition to the contractual interest .

A claim is extinguished when the creditor, who merely requests the payment of a monthly instalment in his statement of claim, does not unequivocally express his intention to claim the arrears due on the annuity, providing the amounts and their due dates . A claim is also extinguished when the creditor, who merely requests the payment of a monthly instalment in his statement of claim, does not unequivocally express his intention to claim the arrears due on the annuity, providing the amounts and their due dates. Furthermore, a claim for interest, the rate of which has not been fixed, relating to a current account prior to the opening of the procedure, which has not been declared as a liability in the debtor's insolvency procedure, is not enforceable against the debtor, during and after the enforcement of the plan, when the undertakings set out in the plan or decided by the court have been fulfilled .

Cass. com., 8 January 2002, LawLex202100002827JBJ (RJ).

Applicable to the receivership procedure by reference to art. L. 641-3.

C. com., art. R. 622-23, applicable to the receivership procedure by reference to art. R. 641-25.

Cass. com., 23 November 2022, LawLex202200011093JBJ (RJ).

Cass. com., 17 October 2018, LawLex202100002838JBJ (LJ).

C. com., art. R. 622-23, applicable to the court-supervised liquidation procedure by reference to art. R. 641-25.

Cass. com., 18 March 2003, LawLex202100002342JBJ (RJ).

Cass. com., 28 September 2004, LawLex202100002924JBJ (RJ).

Cass. com., 28 February 1995, LawLex202100002295JBJ (RJ).

Cass. com., 27 September 2017, LawLex202100002832JBJ (RJ).

Bankruptcy Law

728. Nominal amount and interest

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728. Nominal amount and interest

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Les notions juridiques connexes

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