SECTION 5-11

In case the court or the competent authority opens assets liquidation proceedings following the conclusion of an confirmed or exequatur conciliation agreement, individuals who consented therein to new cash contributions for the debtor so as to ensure the continuation of business activities of the distressed company and its sustainability shall be paid with respect to the ranks provided for in articles 166 and 167 hereinafter. Individuals who furnished a new good or provided a new service so as to ensure the continuation of business activities of the debtor company and its sustainability shall enjoy the same privilege for the price of such good or service. P. 22 of 139 This provision shall not apply to contributions consented for the share capital increase of the debtor. The creditors of the debtor may not benefit from this privilege for claims incurred prior to the opening of the conciliation. Without prejudice to the application of Article 5-10, the court or the competent authority called upon to rule on confirmation or enforcement shall check in this case that the conditions above are met and that the granting of such privilege is not detrimental to the interests of creditors not party to the agreement. The decision of confirmation or enforcement of the agreement shall not reproduce the content of the agreement, but shall mention such privilege and the amounts guaranteed. It shall be notified by the court registry to the public prosecutor as well as to creditors and contracting parties signatory to the agreement. It shall be published under the conditions set forth in article 36 and 37 hereinafter. The publicity shall be carried out by the conciliator, in accordance with Article 38 hereinafter. By way of derogation from Article 5-10 above, the confirmation or enforcement decision taken pursuant to this Article may be opposed before the competent court by any individual concerned within 15 days of its publication. Where applicable, an appeal may be filed against the decision within 15 days following the pronouncement of the decision.