Bankruptcy Law

The profession of receivers is governed by Articles L. 811-1 et seq. of the Commercial Code. Under Article L. 641-10 of the Commercial Code, their appointment is optional when the court-supervised liquidation procedure is opened in favor of a debtor whose number of employees and pre-tax sales are below certain thresholds . However, a receiver may be appointed even if the debtor does not meet the l …

Powers and missions

The profession of receivers is governed by Articles L. 811-1 et seq. of the Commercial Code. Under Article L. 641-10 of the Commercial Code, their appointment is optional when the court-supervised liquidation procedure is opened in favor of a debtor whose number of employees and pre-tax sales are below certain thresholds . However, a receiver may be appointed even if the debtor does not meet the legal thresholds for compulsory appointment, if the court deems it useful .

If appointed, the receiver may introduce an action for extension of the proceedings . He exercises the prerogatives conferred on him by Articles L. 641-11-1 and L. 641-12 . In fact, it is the receiver's responsibility to decide on the continuation or termination of current contracts, and on claims for reclamation or restitution . He may be authorized by the bankruptcy judge to pay prior claims, to withdraw the pledge or thing legitimately retained, or to exercise the purchase option on a leasing contract .

In addition, when the court considers that the sale of all or part of the business is feasible, takeover bids must be sent to the receiver, if one has been appointed . The receiver is responsible for informing the debtor, the employees' representative and the auditors of the content of the offers received, and for filing them with the court registry, where any interested party may consult them . He must provide the court with all information required to verify the seriousness of the offer, and the third-party status of its author . The court then consults the receiver before selecting the offer that best secures the jobs attached to the business and the payment of creditors, and that offers the best guarantees of performance . The receiver is responsible for taking all the necessary steps to complete the sale .

The receiver's remuneration is calculated in accordance with Articles R. 663-3 to R. 663-13-1 of the Commercial Code. Where several companies are the subject of separate insolvency proceedings, the receiver appointed is entitled to remuneration calculated in respect of each of the procedures in question, and not to an overall remuneration calculated on the scale of the “single economic entity” allegedly formed by the debtor companies . He is not obliged to pay the technician appointed by the bankruptcy judge out of his remuneration, even at his request, since his remuneration is the responsibility of the insolvency procedure .

Lastly, under Article L. 641-1-1 of the Commercial Code, the court may, either of its own motion, or at the proposal of the bankruptcy judge or at the request of the public prosecutor, replace the receiver or add one or more receivers to the one already appointed. The bankruptcy judge is not competent to rule on this request .

C. com. L. 641-10, para. 5 and art. R. 621-11, applicable to the receivership procedure by reference to art. R. 641-19: sales of EUR 3,000,000 and 20 employees.

CA Aix-en-Provence, 4 July 2019, LawLex202100005355JBJ (RJ).

Cass. com., 13 December 2017, LawLex202100001915JBJ (RJ).

Cass. com., 24 November 1998, LawLex202100002195JBJ (RJ).

C. com. L. 621-2, applicable by reference to art. L. 641-1. For an application, see Cass. com. 15 December 2009, LawLex202200011129JBJ (RJ).

Bankruptcy Law

680. Powers and missions

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680. Powers and missions

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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