Companies that are going through financial difficulties and whose bailout seems inevitable must go to court to start a court-ordered liquidation proceedings. However, to speed up the process of closing the business, the law has put in place a simplification mechanism. The simplified judicial liquidation only applies to certain companies. Foundation-company-ricard provides you with a file detailing this system.
What is simplified judicial liquidation?
Judicial liquidation is a mode of judicial settlement sets off by a company ou against her (by the court, a creditor or the public prosecutor). If it is the company that requests the opening of this procedure, it must provide a complete file to the court, which includes in particular a declaration of cessation of payments, a Kbis extract, an inventory of the company's assets and several documents. accountants.
The simplified procedure is:
- Beaucoup shorter in its duration,
- Significantly lightened in its course,
- Less expensive for the company in liquidation.
The rules for verifying claims and transferring assets have been simplified. The other provisions of the judicial liquidation of common law apply. here are the characteristics of a procedure of simplified judicial liquidation :
- Only salary claims and claims that can be paid (according to their rank) with the available assets are checked,
- No authorization from the judge-commissioner is required to sell the company's assets over the counter or at public auction (compulsory simplified judicial liquidation),
- The liquidator must carry out the transfer operations decided by the judge-commissioner within a period of 4 months (optional simplified judicial liquidation),
- Filing at the registry of the commercial court of the statement of distribution of the sums collected by the liquidator is sufficient if the funds can only pay privileged creditors (the publication in BODACC only takes place in the event of reimbursement of non-creditors). privileged).
For whom is it possible to access a simplified judicial liquidation?
The simplified judicial liquidations concern companies that are in a state of payment default, whose recovery is Impossible and which meet the criteria of personnel as well as turnover.
The simplified procedure was modified on November 23, 2020.
Companies eligible for simplified judicial liquidation since November 23, 2020
A judicial liquidation must follow a simplified procedure if she :
- does not have no real estate,
- Do not use more than 5 employees in the past 6 months,
- make a turnover not exceeding 750 000 €,
- Have its accounts drawn up by a accountant or certifies its accounts by a auditor.
These thresholds apply to all liquidations opened since November 23, 2020.
From October 1, 2022, sole proprietorships are no longer subject to the thresholds (employee headcount and turnover). The other criteria (absence of real estate and presence of a chartered accountant or a CAC) remain applicable.
Old rules concerning simplified court-ordered liquidations
Previously, the law distinguished the cases where the application of the simplified liquidation was compulsory and those where she was optional.
The simplified judicial liquidation had to inevitably be applied if the company:
- Didn't have a real estate,
- Did not employ more than one employee,
- And made a turnover less than or equal to 300 000 €.
The simplified procedure could also be applied as an option if the number of employees did not exceed 5 and the turnover did not exceed €750.
How long does it take between the opening and the closing of a simplified judicial liquidation procedure?
Ordinarily, six months separate the date of the opening of this procedure and its finalization. However, if the company has more than one employee and has a total turnover of more than €300, the longer term, for the liquidation can reach the twelve months.
The court may, by reasoned decision, prolong the proceedings for a maximum period of three months additional.
La conclusion of the simplified judicial procedure intervenes:
- When all debts have been cleared (if the liquidator has the necessary funds),
- Or when the liquidator no longer has the means to satisfy the creditors (we speak of closure for lack of resources).
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