Paragraph 2: Treatment of over-indebtedness and payment incidents

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Article R721-28

French Monetary and Financial CodeIn force

Updated 5 Nov 2023

In order to carry out the tasks assigned to the Banque de France by Article R. 131-42 in New Caledonia, French Polynesia and the Wallis and Futuna Islands, the Institut d'émission d'outre-mer (French overseas note-issuing bank) shall provide the credit institutions concerned with all the information collected pursuant to Articles L. 131-73 and L. 163-6, no later than the second working day following receipt of the information sent by the Banque de France pursuant to the fourth paragraph of Article L. 131-85. 163-6, no later than the second working day following receipt of the information sent by the Banque de France pursuant to the fourth paragraph of Article L. 131-85.
It shall also communicate information relating to the lifting and cancellation of cheque-writing bans pursuant to Articles L. 131-73 and R. 131-27 to R. 131-28, within two working days of receipt.
Credit institutions located in New Caledonia, French Polynesia and the Wallis and Futuna Islands are deemed to be aware of the information mentioned in the above paragraphs no later than the third day following receipt.
Before recording the information referred to in the first two paragraphs, the credit institution shall ensure that this information matches the identification details available to it, in particular the account number, surname, first names, date and place of birth for natural persons, and the name, legal form, identification number if any and address for legal persons. The credit institution shall notify the Banque de France of the registration or the Institut d'émission d'outre-mer of the mismatch within a maximum of three working days from the expiry of the period provided for in the third paragraph.

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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