1E9Ct5D

even from outside of the EU) are treated the same as creditors that are located inFrance.Creditors are paid according to their order of priority:• Superprivileged creditors (including AGS 39 and Court expenses),• Privileged creditors (debt contracted after the opening of theproceedings, secured debts),• Unsecured creditors.Certain creditors are excluded from this order of priority of claims, and are thereforetreated without regard to their priority. These creditors include:• A creditor that may set off its claims against a related debt that it owesthe insolvent company;• A seller of goods with a reservation of title clause in the sales contract,provided the insolvent company agreed in writing to the reservation oftitle clause on or before the date of delivery of the good; the seller isentitled to the return of the goods, or to payment of the sale price of thegoods;• A creditor with a claim secured by a “gage” 40 may petition the Court forthe return of the goods;• A finance lease lessor (crédit-bailleur) may receive the unpaid rentsdue on the leased goods if the liquidator decides to exercise thepurchase option, provided such payment does not exceed the marketvalue of the goods.39 Assurance Générale des Salaires, a special state insurance scheme.40 A security interest or pledge.27