Article 589 — Scope of Application of the Proceedings

1/ The proceedings referred to in this Book shall apply to traders and business organizations, other than joint ventures having no legal personality, as well as craftsmen and natural persons exercising independent professional activities. 2/ Without prejudice to the special laws regulating preventive restructuring proceedings, reorganization proceedings and bankruptcy proceedings of banks and other financial institutions, the proceedings referred to in this Book shall be applicable to banks and other financial institutions. 3/ Without prejudice to the special laws regulating preventive restructuring proceedings, reorganization proceedings and bankruptcy proceedings of state- owned enterprises (SOEs), the proceedings referred to in this Book shall apply to SOEs. 4/ Special laws may be issued for preventive restructuring proceedings, reorganization proceedings and bankruptcy proceedings of specialized business activities.