1E9Ct5D

All the officers appointed in the insolvency proceeding are specific registeredprofessionals. No private entity, such as an accounting firm or a lawyer, may havean official appointment in a French insolvency proceeding.The filing for redressement judiciaire leads to the opening of a 6 month observationperiod (renewable once) during which:• Generally, no debt existing prior to the date of opening of theproceedings may be paid;• No claim for payment of a debt existing prior to the date of opening ofthe proceedings may be initiated or continued;• All interest due with regard to debt existing prior to the date of openingof the proceedings is frozen. This is effective from the date of openingof the procedure.If, during the observation period, there appears no reasonable likelihood of recovery,the redressement judiciaire may at any time be converted into a liquidationproceeding.If a liquidation proceeding is opened, there will be no observation period. The Courtopening the liquidation proceedings will appoint a liquidateur, who will sell the assetsof the company subject to liquidation proceedings. The sale of the assets can bemade either by auction or by private contract. The Court will decide, in the orderopening the liquidation proceedings, whether to cease the business of the Companyimmediately, or allow it to continue temporarily during liquidation. The officers of theCompany will be relieved of all their management powers. The liquidateur willdismiss the employees and pay the creditors of the Company according to thepriority of competing creditors.15