French Commercial code
In forceIn accordance with II of Article L. 622-21, proceedings for the distribution of the sale price of immovable property and proceedings for the distribution of the sale price of movable property that do not follow on from enforcement proceedings that have had an attributive effect prior to the opening judgment and that are in progress on the day of the judgment, lapse. The funds are remitted to the judicial representative, where applicable by the receiver who by this remittance is discharged with regard to the parties.
If the court adopts a plan, the mandataire judiciaire remits these funds to the commissaire à l'exécution du plan for distribution.
When the procedure for distributing the sale price of a property referred to in the first paragraph has been opened under the conditions provided for in the first paragraph of Article R. 331-3 of the Code of Civil Enforcement Procedures and the purchaser has completed the purging formalities or has been exempted from doing so, the purchaser may refer the matter to the judicial court for the purpose of having the registrations struck off.
The purchaser shall attach to his application proof of payment of the price, a statement of the registrations on formalities, proof of completion of the purging formalities or of obtaining the agreement of the registered creditors to dispense with them and proof of payment of the pre-sale costs mentioned in article 2209 of the Civil Code.
The court clerk summons the creditors who have not discharged their entries, to their elected domicile, by registered letter with acknowledgement of receipt. The summons shall include an indication that they have a period of thirty days from receipt of the registered letter to object to the payment of the price by declaration to the registry or by registered letter with acknowledgement of receipt.
The judge rules on the objections and orders the cancellation of the registrations.
