Here’s the relevant document published in BODACC, the French government’s Official Civil and Commercial Advertising Newsletter:
View attachment 75338
View attachment 75337
Since the translation of legal terms is a tricky thing given countries have different legal systems, it would be helpful if someone with knowledge about the French legal system could comment on the exact nature of this “procédure de redressement judiciaire”, which as far as I understand appears to be an attempt at restructuring a company in dire financial difficulties that has suspended payments.
Translation by DeepL:
Date: 15 October 2024.
Judgment opening receivership proceedings.
800 681 892 RCS Paris.
PROPHESEE.
Form: Société anonyme.
Business: Research and development of neuromorphic sensors and the methodology and processes for using them. Address: 74, rue du Faubourg Saint-Antoine, 75012 Paris.
Supplementary judgment: Judgment pronouncing the opening of receivership proceedings, date of cessation of payments 17 September 2024, appointing: administrator Selarl Aj Up in the person of Me Paul-Henri Audras 5 avenue de Messine 75008 Paris, with the following mission: to assist, judicial representative Selarl Athena in the person of Me Camille Steiner 16 rue Friant 75014 Paris. Claims must be submitted to the court-appointed agent or via the electronic portal provided for in articles L. 814-2 and L. 814-13 of the French Commercial Code within two months of publication in the Bodacc.
La procédure de redressement judiciaire est une procédure collective qui permet la poursuite de l'activité d'une société qui se trouve en état de cessation des paiements. Cette procédure permet notamment de geler les dettes et d'obtenir des remises de dettes et des délais de paiement lors de...
entreprendre.service-public.fr
Redressement judiciaire d'une société
Vérifié le 01 janvier 2025 - Direction de l'information légale et administrative (Premier ministre)
La procédure de redressement judiciaire est une procédure collective Procédure destinée aux entreprises qui ont des difficultés financières. Il existe plusieurs procédures selon la situation de l'entreprise et la gravité des difficultés rencontrées : sauvegarde, redressement judiciaire ou liquidation judiciaire. Les créanciers sont collectivement représentés par un mandataire judiciaire ou un liquidateur judiciaire.qui permet la poursuite de l'activité d'une société qui se trouve en état de cessation des paiementsSituation où la trésorerie dont l'entreprise dispose n'est plus suffisante pour régler ses dettes. Dans ce cas, l'entreprise doit effectuer une déclaration de cessation des paiements, appelée dépôt de bilan, auprès du tribunal de commerce ou du tribunal judiciaire.. Cette procédure permet notamment de geler les dettes et d'obtenir des remises de dettes et des délais de paiement lors de l'adoption du plan de redressement.
Translation by DeepL:
Company in receivership
Verified on 01 January 2025 - Direction de l'information légale et administrative (Prime Minister)
The receivership procedure is a collective procedure for companies in financial difficulty. There are several procedures depending on the company's situation and the seriousness of the difficulties encountered: safeguard, receivership or compulsory liquidation. Creditors are collectively represented by a court-appointed trustee or a court-appointed liquidator.which allows a company to continue trading if it is in a state of suspension of paymentsA situation in which the company no longer has sufficient cash to pay its debts. In this case, the company must file a declaration of suspension of payments, known as filing for bankruptcy, with the Commercial Court or the Court of First Instance. This procedure makes it possible to freeze debts and obtain debt write-offs and payment deadlines when the recovery plan is adopted.