Between the date of the submission of an application for recognition of the foreign bankruptcy
proceedings before the competent court and the date on which the recognition is decided, when
there is an urgent need to take measures to protect the assets of the debtor or the interests of
creditors, the competent court may take, at the request of the foreign representative, the
following provisional measures:
-
prohibit or stay measures of execution against the debtor's assets, including any
extrajudicial execution;
-
entrust the administration or realization of all or part of the debtor's assets located in the
territory of the competent court to the foreign representative or a trustee appointed by the
latter, in order to protect and preserve the value of these assets when, by their nature or
because of other circumstances, they are perishable, susceptible to depreciation or
otherwise under threats;
-
Grant all measures referred to in points 3 °, 4 ° and 7 ° of the first paragraph of Article
256-20 hereinafter.
Unless extended pursuant to point 6 ° of the first paragraph of Article 256-20 hereinafter,
measures granted pursuant to this Article shall cease as soon as a ruling is pronounced on the
application for recognition of the foreign bankruptcy proceedings.
The competent court may refuse to grant measures referred to in this Article if they are that may
hinder the administration of the main foreign bankruptcy proceedings.
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 133
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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