French Commercial code
In forceThe president of the court is seised by a request from the debtor setting out his economic, financial, social and asset situation, his financing requirements and, where applicable, the means of meeting them. The debtor may propose the name of a conciliator.
The conciliation procedure is opened by the president of the court who appoints a conciliator for a period not exceeding four months but which he may, by a reasoned decision, extend at the request of the conciliator without the total duration of the conciliation procedure exceeding five months. If a request for a finding or approval has been made pursuant to article L. 611-8 before the expiry of this period, the conciliator's mission and the procedure are extended until the decision, as the case may be, of the president of the court or the court. Failing this, they are automatically terminated and a new conciliation procedure may not be opened within the following three months.
The decision opening the conciliation procedure is communicated to the public prosecutor and, if the debtor is subject to statutory audit of its accounts, to the statutory auditors. Where the debtor practises a liberal profession subject to a legislative or regulatory statute or whose title is protected, the decision is also communicated to the professional order or competent authority to which, where applicable, the debtor is subject. The decision may be appealed by the public prosecutor. The debtor is not obliged to inform the social and economic committee of the opening of the procedure.
The debtor may challenge the conciliator under conditions and time limits set by decree in the Conseil d'Etat.
After conciliation proceedings have been opened, the president of the court may, notwithstanding any legislative or regulatory provision to the contrary, obtain communication of any information enabling him to assess the economic, financial, social and asset situation of the debtor and his prospects for settlement, in particular from the statutory auditors, chartered accountants, notaries, members and representatives of staff, government departments and public bodies, social security and welfare bodies, credit institutions, finance companies, electronic money institutions, payment institutions, insurance companies referred to in article L. 310-2 of the French Insurance Code providing credit insurance and the departments responsible for centralising banking risks and payment incidents. In addition, it may instruct an expert of its choice to draw up a report on the debtor's economic, financial, social and asset situation.
