French Commercial code
In forceI.-Debts properly arising after the opening judgment for the purposes of the conduct of the proceedings or the observation period, or in consideration for a service provided to the debtor during that period, shall be paid when due.
II.-.Where they are not paid on the due date, these claims are paid by lien before all other claims, whether or not accompanied by liens or security interests, with the exception of those secured by the lien established in articles L. 3253-2, L. 3253-4 et L. 7313-8 of the French Labour Code, legal costs regularly incurred after the opening judgment for the purposes of the proceedings and those guaranteed by the lien established by article L. 611-11 of the present code.
III.- Their payment is made in the order in which they are due.They are paid in the following order:
1° Wage claims for which the amount has not been advanced pursuant to articles L. 3253-6, L. 3253-8 à L. 3253-12 of the French Labour Code;
2° Claims arising from a new cash injection granted to ensure the continuation of the business for the duration of the proceedings;
3° Claims arising from the performance of contracts pursued in accordance with the provisions of Article L. 622-13 and for which the co-contractor agrees to receive deferred payment;
4° Other claims, according to their rank.
The cash contributions referred to in 2° and the payment deferrals referred to in 3° are authorised by the juge-commissaire within the limit necessary for the continuation of the business during the observation period and are publicised. In the event of termination of a duly continued contract, indemnities and penalties are excluded from the benefit of this article.
IV.-Unpaid claims lose the preferential right conferred on them by II of this article if they have not been brought to the attention of the administrator and, failing this, the mandataire judiciaire or, where these bodies have ceased their functions, the commissaire à l'exécution du plan or the liquidator, within one year of the end of the observation period. Where this information relates to a claim declared on behalf of the creditor pursuant to Article L. 622-24, it renders this declaration null and void if the judge has not ruled on the admission of the claim.
