French Commercial code
In forceThe registration of a claim in the plan and the creditor's acceptance of deadlines, remissions or conversions into securities giving or capable of giving access to capital do not prejudge the final admission of the claim to liabilities.
Where the mandataire judiciaire has proposed the admission of a claim and the juge-commissaire has not been seised of any challenge to all or part of that claim, the payments relating thereto shall be made on a provisional basis as soon as the decision adopting the plan has become final, provided that the decision so provides.
The sums to be distributed corresponding to the disputed claims shall only be paid as from the final admission of these claims to the liabilities. However, the court hearing the dispute may decide that the creditor will participate on a provisional basis, in whole or in part, in the distributions made before the final admission.
Unless otherwise provided by law, the payments provided for by the plan are portable.
The court shall determine the terms of payment of the dividends determined by the plan. Dividends are paid into the hands of the commissaire à l'exécution du plan, who proceeds to their distribution. Where the proper implementation of the plan so requires in view of the particular nature of the payments to be made, the court may, by specially reasoned decision and after obtaining the opinion of the public prosecutor, authorise the commissaire à l'exécution du plan, under his responsibility, to pay creditors through a credit institution specially organised to make mass payments in cash or securities.
