- Accounting - Management - Finance
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To be calculated
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1 minutes - 7 hour(s)
Theoretical penalty(s) of non-compliance subject to the judge's discretion and, where applicable, to certain conditions
- 1 Prohibition to manageProhibition to manage
- 1 Damage to reputationRisk of inconsistency with company values - Responsible Governance
Declaration of cessation of payments - compulsory liquidation
Scope of application
Any business - microenterprise, sole proprietorship or company - whose cash flow is no longer sufficient to pay its debts (cessation of payments).
Description
When a company is in a state of suspension of payments, it must file a declaration within 45 days (known as a bankruptcy declaration - cerfa no. 10530) with the commercial court or the judicial court to which the company belongs.
The declaration triggers the opening of conciliation, reorganisation or compulsory liquidation proceedings.
Judicial liquidation proceedings are open to any debtor referred to in article L. 640-2 who has ceased payments and whose recovery is manifestly impossible. Judicial liquidation proceedings are intended to put an end to the company's business or to realise the debtor's assets through a global or separate transfer of his rights and assets.
The declaration triggers the opening of conciliation, reorganisation or compulsory liquidation proceedings.
Judicial liquidation proceedings are open to any debtor referred to in article L. 640-2 who has ceased payments and whose recovery is manifestly impossible. Judicial liquidation proceedings are intended to put an end to the company's business or to realise the debtor's assets through a global or separate transfer of his rights and assets.
Authority
Commercial court
Responsible(s)
Représentant légal de l'entreprise
