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Ad hoc mandate

Verified 01 January 2023 - Directorate for Legal and Administrative Information (Prime Minister)

The ad hoc mandate is a preventive procedure for the settlement of difficulties for companies not in cessation of payments. It allows the company to restructure its debts in secret, without informing employees and third party. The use of the ad hoc mandate shall be subject to payment.

For what types of difficulties?

These situations may include:

  • Economic difficulties (e.g. loss of a market)
  • Financial difficulties (e.g. delay in payment of suppliers, non-payment of sums due by the customer, difficulty in repaying a credit)
  • Social difficulties (for example, disputes between partners)

Please note

The ad hoc post-crisis mandate intended for companies with up to 10 employees who were in financial difficulties can no longer be used since 1er January 2023.

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Commercial or craft activity

To apply for the appointment of an ad hoc representative, you must complete the following document and submit it to the President of the Commercial Court of the company's seat.

Request for the appointment of an ad hoc representative

Who shall I contact

The request for the appointment of an ad hoc representative to the President of the Tribunal shall be accompanied by the following documents:

  • Status of debts and debts with a schedule and a list of principal creditors
  • Active State and indebted of collateral and off-balance sheet commitments
  • Annual accounts
  • Financing schedule, statement of assets available and realizable (excluding operating values) and liabilities due in the last 3 financial years (if these documents have been drawn up)
  • Honor certificate certifying the absence of a statement of cessation of payments

On receipt of this request, the chairman of the tribunal shall receive the contractor or manager and shall obtain his comments.

At the end of the interview, if the President of the Tribunal considers the application to be well founded, he shall give an order of appointment the ad hoc trustee.

FYI  

the appointment of the ad hoc trustee shall not be published.

Liberal activity

To apply for the appointment of an ad hoc representative, you must complete the following document and hand it over to the president of the court of the company's seat.

Request for the appointment of an ad hoc representative

Who shall I contact

The request for the appointment of an ad hoc representative to the President of the Tribunal shall be accompanied by the following documents:

  • Status of debts and debts with a schedule and a list of principal creditors
  • Active State and indebted of collateral and off-balance sheet commitments
  • Annual accounts
  • Financing schedule, statement of assets available and realizable (excluding operating values) and liabilities due in the last 3 financial years (if these documents have been drawn up)
  • Honor certificate certifying the absence of a statement of cessation of payments.

On receipt of this request, the chairman of the tribunal shall receive the contractor or manager and shall obtain his comments. At the end of the interview, if the President of the Tribunal considers the application to be well founded, he shall give an order of appointment the ad hoc trustee.

FYI  

The appointment of the ad hoc trustee shall not be published.

If he accepts the request, the President of the Tribunal shall freely appoint the ad hoc representative. He is often a judicial administrator. The President of the Tribunal shall determine in the order for appointment:

  • Purpose of the mission most often, it involves helping the entrepreneur or manager negotiate an agreement with his principal creditors for the purpose of obtaining debt reschedulings.
  • Durationof the mandate: usually for 3 months, renewable several times
  • Conditions for the remuneration of the representative

The decision appointing the ad hoc representative shall be communicated by registered letter with acknowledgement of receipt to the contractor or manager who has requested it.

It shall also be provided for information to the auditor.

This decision shall not be communicated to the Social and Economic Committee (ESC) where it exists.

FYI  

The manager or the individual entrepreneur may propose the name of an ad hoc representative to the president of the tribunal. The appointment of the ad hoc trustee shall not be published.

The purpose of the ad hoc trustee is to avoid cessation of payments.

The ad hoc trustee in particular, it will negotiate the staggering of the company's debts with one or more creditors (such as the bank, tax and social agencies, suppliers).

However, nothing can be imposed on the company's creditors or partners.

During the term of office, the officer shall continue to direct and manage his company alone.

2 situations arise:

  • Success of the ad hoc trustee's mission (e.g. signing of an agreement between the creditors and company)
  • Ad hoc proxy negotiation failed. In this case, the company may move towards a reconciliation.

FYI  

The individual contractor (EI) or the manager may stop the ad hoc representative's assignment at any time.

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