French Commercial code
In forceI.-Without prejudice to the right of ownership or retention enforceable against the collective proceedings and the provisions of articles L. 622-17 and L. 641-13, the amount of distributable assets is allocated in the following order:
1° Subsidies provided for in Article L. 631-11 that have not yet been paid;
2° Claims guaranteed by the lien provided for in articles L. 3253-2, L. 3253-4 and L. 7313-8 of the French Labour Code;
3° Legal costs regularly incurred after the opening judgement for the purposes of the proceedings that remain unpaid on the due date;
> 4° Claims guaranteed by the preferential right of the debtor to the payment of legal costs.
4° Claims guaranteed by the preferential right provided for in Article L. 624-21;
> 5° Claims guaranteed by the preferential right provided for in Article L. 624-21; and
5° Claims guaranteed by the conciliation lien established by Article L. 611-11;
> 6° Claims guaranteed by security interests established by Article L. 624-21;
6° Claims secured by real estate collateral classified in the order set out in the Civil Code;
7° Wage claims that have not been paid on the due date and the amount of which has not been paid in advance pursuant to articles L. 3253-6, L. 3253-8 to L. 3253-12 of the French Labour Code, under the conditions set out in article L. 641-13;
> 8° Claims guaranteed by the preferential right of payment (privilège), which is the right of the creditor to recover the amount of the claim.
8° Claims guaranteed by the lien established in 2° of III of Article L. 622-17 that have not been paid on the due date and by the lien established in Article L. 626-10;
> 9° Claims resulting from the sale of a company to a third party under the terms of Article L. 641-13 of the French Labour Code
9° Receivables arising from the performance of contracts referred to in 3° of III of Article L. 622-17 that have not been paid on the due date;
> 10° Amounts for which the amount has not been paid on the due date.
10° Sums advanced in accordance with 5° of Article L. 3253-8 of the French Labour Code, under the conditions set out in Article L. 641-13;
> Other claims not subject to advance payment, in accordance with the conditions set out in Article L. 641-13
11° Other receivables not subject to the prohibition set out in the first paragraph of Article L. 622-7, which have remained unpaid, according to their rank;
12° Receivables guaranteed by the preferential right of the Treasury established in Article 1920 of the General Tax Code, with the exception of receivables of all kinds in respect of indirect taxation and those mentioned in Article 379 of the Customs Code;
13° Claims guaranteed by a pledge, by the lessor's lien provided for in Article 2332 of the Civil Code up to a limit of six months' rent and those guaranteed by the lien provided for in Article L. 141-5 et seq;
14° Claims of all kinds relating to indirect taxation and those mentioned in Article 379 of the Customs Code;
15° Unsecured claims, in proportion to their amount.
All without prejudice to other preferential rights.
II - The portion corresponding to claims that have not been finally settled, in particular the remuneration of company officers until such time as their case has been settled, and the portion corresponding to foreseeable legal costs, is placed in reserve.
