1E9Ct5D

insolvency plan has not been submitted before the first creditors’ meeting, thecreditors may ask the administrator to prepare such a plan.b. France:If a redressement judiciaire (receivership) is open, the Court will appoint:• an administrateur judiciaire (a receiver) who will draft a report regardingthe current situation of the company and assist (or replace) thecompany’s management during the reorganization;• A mandataire judiciaire, who will make sure the employees are paid,and will establish the exact amount and nature of the company’sliabilities; and• A juge-commissaire, a member of the Court who will closely monitor theproceedings and approve certain transactions.If a liquidation judiciaire is open, the Court will appoint:• A liquidator, who will manage the company in lieu of the currentdirectors and CEO, and who will act as a representative of thecreditors;• A juge-commissaire, a member of the Court who will closely monitor theproceedings and approve certain transactions; and• If the company is allowed to continue operating its business duringliquidation, the Court may also appoint an administrateur judiciaire,who will manage the company, prepare the company’s liquidation sale(plan de cession), and undertake any action necessary for itsimplementation. 2020 For companies with more than 20 employees and annual revenue of more than € 3,000,000.14