Chapter II: The company during the observation period.

I. - The judgment initiating the proceedings entails, ipso jure, a prohibition on the payment of any claim arising prior to the opening judgment, with the exception of payment by way of set-off of related claims. It also automatically entails a prohibition on payment of any claim arising after the opening judgment, not mentioned in I of Article L. 622-17. These prohibitions do not apply to the payment of maintenance claims.

Similarly, it automatically renders unenforceable the right of retention conferred by the 4° of Article 2286 of the Civil Code during the observation period and the execution of the plan, unless the pledged asset is included in a transfer of business decided pursuant to Article L. 626-1.

Lastly, it prevents the conclusion and realisation of a commissoire pact.

II. - The juge-commissaire may authorise the debtor to make an act of disposal unrelated to the day-to-day management of the business, to grant a contractual security interest in rem to guarantee a claim subsequent to the opening of the proceedings, to pay the carrier bringing an action under article L. 132-8 of the Commercial Code or to compromise or compromise. However, if any of these acts is likely to have a decisive impact on the outcome of the proceedings, the official receiver may only rule after obtaining the opinion of the public prosecutor.

After obtaining the observations of the public prosecutor, the official receiver may authorise the debtor to exercise the right provided for in article 1699 of the Civil Code. He may also authorise him to pay claims predating the judgment, to withdraw the pledge or a thing legitimately withheld or to obtain the return of assets and rights transferred by way of security into a fiduciary estate, where such withdrawal or return is justified by the continuation of the business. Such payment may also be authorised to exercise the purchase option under a leasing contract, where such exercise of the option is justified by the continuation of the business.

III. - Any deed or payment made in breach of the provisions of this article shall be cancelled at the request of any interested party or the Public Prosecutor's Office, made within three years of the conclusion of the deed or payment of the claim. Where the act is subject to publication, the period shall run from the date of publication.