Cesati status of payments is the situation where there is a person or a company that no longer has sufficient cash to meet debts due and payable. Termination payments should not be confused with a gene temporary cash or with insolvency. The finding by a commercial court, the state of insolvency will open an insolvency procedure.
See art. 3 of Law No 85/98 of 25 January 1985 on the bankruptcy and liquidation of companies and the article by Dr. J-Cl May, cessation of payments, Les Petites Affiches, 16 October 1985, p. 12. and the "Judicial Reorganization."
Texts
Monetary and Financial Code, Art. L613-26.
Commercial Code, Article L511-39 L611-4 L611-8 L620-1 L621-12 L626-27, L631-1 ff, ff-1 L632, L640-1 et seq , L641-1 f., L652-1 L653-3, L653-5 L653-8.
law 85-98 of January 25, 1985 Art. 3.
L. 2005-845 of 26 July 2005 corporate backup.
Decree No. 2005-845 of 26 July 2005.
Decree No. 2005-1677 of 28 December 2005.
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