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iv.Sauvegarde accélérée 54 andsauvegarde financière accélérée 55The main purpose of these procedures is to help a company already subject to aconciliation (but not to a regular sauvegarde) to arrange a restructuring plandeveloped with, and supported by, its main creditors under more flexible conditionsand in a very short period of time (one to three months). In order to be eligible forthis accelerated procedure, the company must meet the following criteria:• It is already subject to a conciliation,• It has developed with its main creditors a restructuring plan during theconciliation,• It has not been insolvent for more than 45 days,• It has either;ooconsolidated accounts; oraccounts certified by a statutory auditor or issued by a charteredaccountant, andoomore than 20 employees, andtotal revenues (VAT excluded) for the previous fiscal yearexceeding €3 million, or assets exceeding €1.5 million.The duration of the sauvegarde accélérée cannot exceed three months.Therestructuring plan must be approved by creditors participating in the conciliation thathold two-thirds of the value of the claims against the company. Once approved bythe Court, the plan will be enforceable against those creditors who participated to theconciliation, even if they voted against the plan.54 Code de commerce [C. com.] art.L.628-1.55 Code de commerce [C. com.] art.L.628-9.40