CONSERVATORY SEIZURE

Section II: The seizure of receivables.
Sub-section 1: Data entry operations.

The creditor proceeds to the seizure by means of an act of judicial officer served on the third party.

This act contains, on pain of nullity:

1 ° The statement of the name and domicile of the debtor or, in the case of a legal person, of its name and its registered office;

2 ° The indication of the authorization or the title by virtue of which the seizure is carried out;

3 ° The statement of the sums for which the seizure is made;

4 ° The prohibition made to the third party to dispose of the sums claimed within the limit of what it owes to the debtor;

5 ° The reproduction of the third paragraph of article 29 and article 44 of the law of July 9, 1991.

Any interested party may request that the sums seized be placed in the hands of a designated receiver, failing an amicable agreement, upon request by the execution judge.

The remittance of funds to the receiver stops the course of interest due by the garnishee.

Within eight days, on pain of lapse, the protective seizure is brought to the attention of the debtor by an act of a bailiff.

This act contains, on pain of nullity:

1 ° A copy of the authorization of the judge or of the title by virtue of which the seizure was carried out; however, if it is a notarized obligation or a debt of the State, local authorities or their public establishments, only the date, the nature of the security and the amount are mentioned. debt ;

2 ° A copy of the seizure report;

3 ° The mention, in very visible characters, of the right which belongs to the debtor, if the conditions of validity of the seizure are not met, to request its release from the judge of the execution of the place of his domicile;

4 ° The designation of the court before which other disputes will be brought, in particular those relating to the execution of the seizure;

5 ° The reproduction of articles 210 to 219;

6 ° The indication, in the event of an account seizure, that the account holder can ask the garnishee, within 15 days of the seizure, to make available a sum of an amount at most equal to the minimum income insertion for a beneficiary, within the limit of the credit balance of the account on the day of receipt of the request.

The garnishee is required to provide the bailiff with the information provided for in article 44 of the law of July 9, 1991 and to provide him with all supporting documents.

The information is mentioned on the seizure document.

The garnishee who, without a legitimate reason, does not provide the information provided for, runs the risk of having to pay the sums for which the seizure has been made if the debtor is convicted and without his recourse against the latter.

He can also be ordered to pay damages in the event of culpable negligence or of inaccurate or false declaration.

In the absence of dispute before the act of conversion, the declaration of the third party is deemed to be correct for the sole needs of the seizure.

Sub-section 2: Conversion to seizure-attribution.

The creditor who obtains an enforceable title certifying the existence of his claim shall serve on the garnishee a deed of conversion which contains, on pain of nullity:

1 ° The reference to the official record of the seizure;

2 ° The statement of the enforceable title;

3 ° The separate statement of the sums due under the enforceable title, in principal, costs and accrued interest as well as an indication of the interest rate;

4 ° A request for payment of the sums previously indicated up to those for which the third party has recognized itself or has been declared debtor.

The act informs the third party that, within this limit, the request entails immediate attribution of the debt seized for the benefit of the creditor.

The copy of the deed of conversion is served on the debtor.

From this service, the debtor has a period of fifteen days to contest the deed of conversion before the execution judge of the place where he resides.

In the absence of a dispute, the third party makes the payment upon presentation of a certificate from the registry attesting to the absence of a dispute.

Payment can be made before the expiry of this period if the debtor has declared that he does not contest the deed of conversion. This declaration must be recorded in writing.

As necessary, the provisions of articles 62, 63, 64, 67 and of the second paragraph of article 70 are applicable to the conversion of the protective seizure.

Section III: The protective seizure of partner rights and securities.
Sub-section 1: Data entry operations.

The creditor proceeds with the seizure by serving a document on one of the persons mentioned in Articles 178 to 181, as the case may be.

This act contains, on pain of nullity:

1 ° The name and domicile of the debtor or, in the case of a legal person, its name and registered office;

2 ° The indication of the authorization or the title by virtue of which the seizure is carried out;

3 ° The statement of the sums for which the seizure is made;

4 ° The indication that the seizure renders unavailable the pecuniary rights attached to all the shares or securities of which the debtor is the holder;

5 ° The summons to make known the existence of any pledges or seizures.

Within eight days, on pain of lapse, the protective seizure is brought to the attention of the debtor by an act of a bailiff.

This act contains, on pain of nullity:

1 ° A copy of the authorization of the judge or of the title by virtue of which the seizure was carried out; however, if it is a notarized obligation or a debt of the State, local authorities or their public establishments, only the date, the nature of the security and the amount are mentioned. debt ;

2 ° A copy of the seizure report;

3 ° The mention, in very visible characters, of the right which belongs to the debtor, if the conditions of validity of the seizure are not met, to request its release from the judge of the execution of the place of his domicile;

4 ° The designation of the court before which other disputes will be brought, in particular those relating to the execution of the seizure;

5 ° The reproduction of articles 210 to 219.

The provisions of article 184 are applicable.

Sub-section 2: Conversion to seizure-sale.

The creditor who obtains an enforceable title certifying the existence of his debt serves on the debtor a deed of conversion which contains, on pain of nullity:

1 ° The reference to the official record of the seizure;

2 ° The statement of the enforceable title;

3 ° The separate account of the sums to be paid in principal, costs and accrued interest, as well as an indication of the interest rate;

4 ° A command to have to pay this sum, failing which the seized goods will be sold;

5 ° The indication, in very visible characters, that the debtor has a period of one month to proceed with the amicable sale of the seized securities under the conditions prescribed either in Article 187, or, if he is deals with rights of associates or securities not admitted to official listing or to that of the secondary market, in Articles 107 to 109;

6 ° If the seizure relates to listed transferable securities, the indication that he can, in the event of a forced sale and until this is completed, inform the garnishee of the order in which they must be sold ;

7 ° The reproduction of articles 107 to 109 and 187.

A copy of the deed of conversion is served on the garnishee.

The sale is carried out in accordance with the terms set out in articles 187 to 193.