{"id":5980,"date":"2012-04-27T17:51:51","date_gmt":"2012-04-27T17:51:51","guid":{"rendered":"https:\/\/gregorydamy.niceavocats.fr\/?p=5980"},"modified":"2023-08-02T09:54:17","modified_gmt":"2023-08-02T09:54:17","slug":"debt-discharge","status":"publish","type":"post","link":"https:\/\/gregorydamy.niceavocats.fr\/en\/debt-discharge\/","title":{"rendered":"Judicial liquidation: explanations and operation"},"content":{"rendered":"

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.19.5″ custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.19.5″ _module_preset=”default” background_enable_mask_style=”on” background_mask_style=”wave” background_mask_color=”rgba(0,0,0,0.08)” custom_padding=”||6px|||” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_circle_counter title=”Estimated reading time (in minutes)” number=”2″ percent_sign=”off” _builder_version=”4.20.2″ _module_preset=”default” title_font=”Amiri||||||||” max_width=”137px” global_colors_info=”{}”][\/et_pb_circle_counter][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image src=”https:\/\/gregorydamy.niceavocats.fr\/wp-content\/uploads\/2023\/07\/businessman-1477601_1280-2.jpg” title_text=”businessman-1477601_1280-2″ _builder_version=”4.21.0″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][\/et_pb_image][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ text_font=”Amiri||||||||” header_2_font=”Amiri||||||||” header_3_font=”Amiri||||||||” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

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Debt release!\u00a0<\/span>It is during the\u00a0\u00a0<\/span><\/span>judicial liquidation<\/a><\/span>\u00a0\u00a0procedure\u00a0<\/span><\/span>that\u00a0<\/span><\/span>the question of the future of professional debts arises.\u00a0<\/span>A liquidator will then take care of the administration of the goods and their sale to settle the debts and reimburse the creditors.\u00a0Even if the debts are not fully settled, the court can close the judicial liquidation and the creditors then no longer have the possibility of recovering their claims.<\/span><\/p>\n

THE OPENING OF A JUDICIAL LIQUIDATION<\/span><\/h2>\n

When the debtor has too many\u00a0 professional\u00a0<\/span>debts\u00a0<\/span>\u00a0, it is advisable to seek judicial liquidation proceedings.\u00a0This collective procedure is reserved for the debtor in cessation of payment and whose recovery is impossible.<\/span>
The debtor must initiate the procedure as soon as possible.\u00a0If necessary, the court can accuse him of having exercised a loss-making activity and of having thus voluntarily aggravated his professional debts.\u00a0He then risks heavy civil and criminal penalties.<\/span><\/p>\n

WHAT HAPPENS TO MY PROPERTY?<\/span><\/h2>\n

When initiating liquidation proceedings, the court will appoint a liquidator.\u00a0The latter’s mission is to seize all the debtor’s assets, sell them and settle professional debts.\u00a0As of the judicial liquidation, the liquidator alone has the power to administer the debtor’s assets.\u00a0The latter will therefore have to call on the liquidator to sell, for example, his vehicle or his business.<\/span><\/p>\n

HOW TO SETTLEMENT MY DEBTS?<\/span><\/h2>\n

It is at the end of the judicial liquidation procedure that the problem of the settlement of professional debts arises.<\/span>
Two scenarios: \u2013 The proceeds from the sale of the goods made it possible to settle the debts,<\/span>
\u2013 There are still unpaid debts.<\/span>
In both cases, the court will close the judicial liquidation and the creditors will no longer be able to recover their claims.<\/span><\/p>\n

CAN I BE SUED?<\/span><\/h2>\n

If there are still debts at the end of the judicial liquidation, the creditors can no longer sue you, nor sue you.\u00a0On the other hand, the creditors can sue the persons who have stood sureties to obtain the settlement of the debts.\u00a0However, it is important to pay attention to social debts.\u00a0Do not hesitate to consult your specialized lawyer.<\/span><\/p>\n

DAMY law firm<\/span><\/a>\u00a0, Nice Update 2022.<\/span><\/p>\n<\/div>\n

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Debt release!\u00a0It is during the\u00a0\u00a0judicial liquidation\u00a0\u00a0procedure\u00a0that\u00a0the question of the future of professional debts arises.\u00a0A liquidator will then take care of the administration of the goods and their sale to settle the debts and reimburse the creditors.\u00a0Even if the debts are not fully settled, the court can close the judicial liquidation and the creditors then no […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[295],"tags":[],"class_list":["post-5980","post","type-post","status-publish","format-standard","hentry","category-commercial-and-company-law"],"yoast_head":"\nJudicial liquidation: explanations and operation - Soci\u00e9t\u00e9 d'avocats Damy<\/title>\n<meta name=\"description\" content=\"Debt discharge It is during the judicial liquidation procedure that the question of the future of professional debts arises.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gregorydamy.niceavocats.fr\/en\/debt-discharge\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Judicial liquidation: explanations and operation - 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