Chapter II: The company during the observation period.

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Article L622-26

French Commercial codeIn force

Updated 7 Nov 2023

In the absence of a declaration within the time limits provided for in Article L. 622-24, creditors shall not be admitted to distributions and dividends unless the official receiver relieves them of their foreclosure if they establish that their default is not due to their fault or that it is due to an omission by the debtor when drawing up the list provided for in the second paragraph of l'article L. 622-6. They may then only contribute to distributions made after their request.

Debts and securities not duly declared within these time limits may not be enforced against the debtor during the implementation of the plan and after such implementation when the commitments set out in the plan or decided by the court have been fulfilled. Under the same conditions, they are also unenforceable against natural persons who are co-obligated or who have granted a personal surety or who have assigned or transferred an asset as security.

The action for relief from foreclosure may only be brought within the six-month period. This period runs from the publication of the opening judgment or, for the institutions mentioned in article L. 3253-14 of the Labour Code, from the expiry of the period during which the claims arising from the employment contract are guaranteed by these institutions. In the case of holders of a published security or those bound to the debtor by a published contract, the period runs from receipt of the notice given to them. By way of exception, if the creditor proves that he was unable to know of the debtor's obligation before the expiry of the six-month period, the period runs from the date on which it is established that he could not have been unaware of the existence of his claim.

Mariela Petrova

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Common Questions

Working with a corporate lawyer in France — Q&A

Any time a strategic decision changes how the company is owned, governed or contractually bound — incorporation, fundraising, M&A, restructuring, shareholder agreements, or major commercial contracts. Earlier engagement always costs less than later remediation.

A notary (notaire) is a public officer who authenticates specific deeds (mainly real-estate transfers and certain family-law acts). A corporate lawyer (avocat) advises on strategy, negotiates and drafts company documents, and represents you in disputes. The two roles complement rather than overlap.

Yes — most of our clients are foreign suppliers, investors or holding entities. We bridge the gap between French law and your home jurisdiction's expectations and deliver everything bilingually.

The SAS (Société par Actions Simplifiée) is the default choice for most international structures: flexible governance, single shareholder allowed, no minimum capital, and works cleanly with foreign holding entities. We assess SARL, SA, SCI on the merits when the situation calls for it.

Yes — communications with a French avocat are protected by the secret professionnel (Article 66-5 of the Law of 31 December 1971). This protection is broader than the common-law attorney-client privilege and applies to written and oral exchanges.

We work on fixed fees for clearly scoped engagements (incorporation, contract drafting, audits) and on monthly retainers for ongoing advisory. Hourly billing is the exception, not the default. You always know the cost before work starts.

Typical timeline is 2–3 weeks from KYC kick-off to RCS registration, assuming standard documentation. Holding-company structures, foreign-shareholder identification or in-kind contributions can extend this — we flag the gating items at the first meeting.

Absolutely. We routinely coordinate with your in-house counsel, expert-comptable or notaire — pragmatic collaboration is the norm, not the exception. We send them everything they need to do their part without duplicating work.

Mariela Petrova

Mariela Petrova

Avocate au Barreau de Paris

Toque #C2396

15+ Years In Corporate Practice

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Communications protected by professional secrecy — secret professionnel de l'avocat, Article 66-5 of the Law of 31 December 1971.

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