English
1/ During the observation period, all individual
enforcement actions by all creditors, including
secured in rem by pledges, mortgages or otherwise,
preferred and creditors benefiting from a sale contract
with ownership reserved, shall, as a matter of law, be
automatically stayed, without any need for the debtor
or the supervisor in reorganization to request a stay of
individual enforcement actions.
2/ Natural persons as guarantors may invoke the benefit
of the stay of individual enforcement actions in
reorganization proceedings.
3/ During the observation period, the statutes of limitation
and pre-emptions rights are suspended.
4/ Notwithstanding Sub-Article
(1) of this Article,
payment made to employees of the debtor may not be
terminated.
5/ The supervisory judge may exclude other claims from
the scope of general stays of individual enforcement
actions, where:
a) the debtor is not in possession of encumbered
assets; or
b) individual enforcement actions are less likely to
jeopardize the restructuring of the business; or
c) one or more creditors would be unfairly prejudiced
by a general stay of individual enforcement
actions.
