What is a proof of debt?

When a French company is placed into formal insolvency proceedings – safeguard, judicial reorganisation, or judicial liquidation – its creditors may no longer pursue it individually. Enforcement is stayed, individual proceedings are frozen. To have any prospect of payment, each creditor must notify the court-appointed mandataire judiciaire (or liquidator) through a specific formal act: the proof of debt (declaration de creances).

This is a formal act, subject to strict time limits and content requirements. The Cour de cassation recognises its particular legal nature: the proof of debt is equivalent to a claim in proceedings (demande en justice), which interrupts limitation periods and produces the effects attached to originating process (settled case law since the 1985 Act). This is not merely academic – it means that errors made in the declaration may have definitive consequences on the creditor’s right.

Article L.622-24, paragraph 1 of the Commercial Code: “From the publication of the judgment, all creditors whose claim arose before the opening judgment, with the exception of employees, address the declaration of their claims to the mandataire judiciaire within time limits fixed by decree.”

Article L.622-24 sets out the general rule. It applies to safeguard proceedings. Judicial reorganisation and judicial liquidation incorporate it by reference via Articles L.631-14 and L.641-3 respectively: the same regime, the same time limits, the same sanctions – regardless of which procedure has been opened against the debtor.

A formality with definitive consequences

What distinguishes the proof of debt from most procedural acts is the definitive character of its consequences. A creditor who has not filed within the statutory period is time-barred (forclos) – their claim is inadmissible. They are not admitted to distributions, receive no dividend, and do not recover their right to individual pursuit against the debtor after closure. The sanction is absolute, with no proportionate measure related to the length of delay.

The sole remedy is an application for relief from time-bar (releve de forclusion), subject to specific conditions and enclosed within a further deadline. This is why the proof of debt deserves immediate attention as soon as you learn that a client, tenant, or debtor is in proceedings.

Who must file a proof of debt?

The general rule: all pre-existing creditors

The obligation is universal for creditors whose claim arose before the opening judgment. The nature of the claim, its amount, and its origin (contract, tort, quasi-contract) are irrelevant: provided it existed before the opening of proceedings, it must be declared. A supplier with unpaid invoices, a landlord with outstanding rent, a bank that granted a loan, a subcontractor for works performed: all are concerned.

The declaration may be made by the creditor personally or by any employee or representative of their choice – lawyer, accountant, finance director, recovery agent. The creditor may also ratify a declaration made in their name by a third party, so long as the supervisory judge has not yet ruled on admission.

A point not to overlook: where the debtor has itself brought your claim to the attention of the mandataire judiciaire, it is presumed to have acted on your behalf. But this presumption does not relieve you of the obligation to file. It runs until you submit your own declaration – and if you fail to do so within the statutory period, time-bar applies.

Exempt creditors

Three categories escape the filing obligation:

  • Employees. Their salary claims (wages, termination indemnities, holiday pay) are automatically entered on the liabilities by the AGS (wage guarantee fund), via statements prepared by the mandataire or liquidator. The employee need do nothing – unless contesting an incomplete statement, within a specific deadline.
  • Maintenance creditors. Article L.622-24, final paragraph, expressly excludes maintenance obligations (alimony, periodic compensatory payments). They are paid outside the insolvency proceedings.
  • Article L.622-17 creditors. Claims arising properly after the opening judgment, for the needs of the proceedings or the observation period, or in return for a service provided to the debtor for its current activity, benefit from a privileged regime of payment at maturity. They are not subject to the Article L.622-24 filing requirement.

What claims must be declared?

The obligation covers all pre-opening claims, without restriction on their nature or certainty. The statute is explicit: “The declaration of claims must be made even where they are not established by a written instrument. Claims whose amount is not yet definitively fixed are declared on the basis of an estimate.”

This covers in particular:

  • Future claims (creances a terme): a debt whose maturity has not yet arrived at the date of the opening judgment must nonetheless be declared – for its full amount, indicating the maturity date.
  • Disputed claims: pending litigation on the existence or amount of the claim does not exempt from filing. One declares the claimed amount, noting its disputed character.
  • Conditional claims: a claim dependent on a future event (e.g. a demand guarantee that might be called) must be declared for its estimated amount.
  • Foreign currency claims: converted to euros at the exchange rate on the date of the opening judgment.

For ongoing contracts continued by the administrator and subsequently terminated, the Cour de cassation has specified the regime: the creditor must declare any termination indemnity within a special one-month period from notification of termination by the administrator (Cass. com., 5 November 2013, No. 12-20.263). This derogatory deadline is independent of the general two-month period.

How to file a proof of debt

The CERFA form No. 10021*01

No text mandates use of the official form for non-professional creditors, but it is strongly recommended. The CERFA form No. 10021*01, available from the court registry website, structures the declaration and covers all the particulars required by Article L.622-25. A professional creditor submitting a simple letterheaded letter may perfectly satisfy the statutory requirements – provided no element is omitted.

Mandatory particulars

Content – Article L.622-25 of the Commercial Code (in force since 1 October 2021):

The declaration must mandatorily contain:

  • Identity of the declaring creditor (name, address, SIRET number for legal entities)
  • Amount of the claim due at the date of the opening judgment
  • Sums falling due in the future (future rents, upcoming instalments) and their maturity dates
  • Nature and scope of any security interest (mortgage, pledge, charge, etc.)
  • Where a conventional proprietary security has been constituted over the debtor’s assets to secure a third party’s debt: express mention
  • Certification of accuracy by the creditor (unless the claim arises from an enforceable instrument)

The security interest deserves particular attention. If your claim is secured by a mortgage, pledge, or any other guarantee mechanism, you must specify its nature and scope in the declaration. Omitting the security does not cause loss of the claim, but renders the security unenforceable against the proceedings (inopposable) – meaning you will be treated as an ordinary unsecured creditor, without the benefit of your priority rank. Secured creditors who forget to mention their guarantee thereby erase years of registration formalities. This is one of the most costly pitfalls of the proof of debt.

To whom and how

In safeguard and judicial reorganisation, the declaration is addressed to the mandataire judiciaire appointed by the court. In judicial liquidation, it is the liquidator who receives declarations.

The opening judgment published in the BODACC states the name and address of the mandataire or liquidator. This information is also available from the court registry or on the Infogreffe portal.

The declaration may be sent by registered letter with acknowledgment of receipt – the safest method for establishing proof of dispatch and timing. It may also be delivered directly to the mandataire or liquidator against receipt. Some mandataire firms also accept electronic declarations via their dedicated platforms.

Time limits: the rules you must know

The general two-month period

Article R.622-24 fixes the regulatory deadline: two months from publication of the opening judgment in the BODACC (Bulletin officiel des annonces civiles et commerciales, freely consultable at bodacc.fr). This period applies uniformly to safeguard, judicial reorganisation, and judicial liquidation.

Two months is short. Debt recovery against an insolvent company demands immediate reactivity. And the period runs even if you are unaware of the proceedings. The Cour de cassation has stated this clearly: a foreign creditor’s ignorance of the opening of French proceedings does not suspend the filing deadline (Cass. com., 16 November 2010, No. 09-16.572). BODACC publication is enforceable against all.

Special rules by creditor situation

Creditor situation Starting point Duration
Ordinary creditor Publication of opening judgment in BODACC 2 months
Creditor domiciled outside metropolitan France Publication in BODACC 4 months (2 + 2)
Creditor holding a registered security or party to a registered contract Receipt of personal notification from mandataire 2 months
Creditor granted relief from time-bar Notification of the relief decision 1 month (halved standard period)
Creditor of a terminated ongoing contract Notification of termination by administrator 1 month
Civil party (claim arising from a criminal offence) Publication in BODACC or final decision fixing amount (whichever is later) 2 months from the later date

For creditors holding a registered security (mortgage, registered pledge, etc.) or party to a registered contract with the debtor, the deadline runs only from receipt of the personal notification the mandataire must send them. But note: if this notification is received before BODACC publication, the standard deadline from BODACC publication applies.

What happens after filing?

Verification by the mandataire judiciaire

Once declarations are received, the mandataire judiciaire – or liquidator – proceeds to verify claims. They examine the existence of each claim, its amount, its nature, and the security interests attaching to it. They must notify the creditor of their admission or rejection proposals by registered letter.

The creditor then has thirty days to respond and, where applicable, contest the proposal (Art. L.622-27). This period runs from receipt of the letter – not its sending. If the creditor does not respond within thirty days, they may no longer subsequently contest the mandataire’s proposal.

Admission, rejection, and contestation

On the basis of verifications and creditor responses, the supervisory judge rules on each contested claim: admitting it, admitting it in part, or rejecting it. Their decision may be appealed to the court. Where no contestation has been raised, the mandataire may themselves establish the schedule of claims for uncontested admitted claims.

The admission decision has relative res judicata effect. It does not prevent the enforcement judge from examining the unfair character of a contractual clause, notably during a subsequent property seizure (Cass. com., 8 February 2023, No. 21-17.763). Admission to the liabilities is therefore not a definitive blank cheque on all terms of the claim.

The schedule of claims and distributions

Following verification, the mandataire draws up the schedule of declared claims, with proposals for admission or rejection. This schedule is filed at the court registry and may be consulted by any interested person. This document is the foundation of future distributions: only admitted claims participate in dividends.

Timeline:

  1. Opening judgment – The court opens insolvency proceedings. A mandataire judiciaire (or liquidator) is appointed. Individual proceedings are stayed.
  2. Publication in the BODACC – The judgment is published. The 2-month deadline starts running from this date.
  3. Proof of debt – Each creditor files with the mandataire judiciaire within 2 months (or 4 months if domiciled abroad). By registered letter with acknowledgment of receipt or direct delivery.
  4. Verification of claims – The mandataire verifies each claim and notifies proposals. The creditor has 30 days to contest (Art. L.622-27).
  5. Schedule of claims and distributions – The supervisory judge rules on contested claims. The schedule is filed at the registry. Distributions are made according to admitted claims and respective ranking.

Time-bar, unenforceability, and relief from time-bar

Time-bar: you are excluded from distributions

A creditor who has not filed within the statutory period is time-barred (forclos). Concretely, they are not admitted to distributions or dividends. They participate in no distribution, receive nothing upon closure of liquidation, and cannot recover their right to individual pursuit against the debtor after closure – unless relief from time-bar has been granted.

Unenforceability: even a filed claim can be problematic

Since the Ordinance of 15 September 2021 (in force for proceedings opened from 1 October 2021), an irregular declaration – incomplete or improperly formed – may now be declared unenforceable by the supervisory judge, under Article L.624-2, paragraph 1. Before this reform, only non-filing triggered time-bar; an improperly filed claim was merely irregular without such severe sanction.

Relief from time-bar: a second chance under conditions

The time-barred creditor has a remedy: the application for relief from time-bar (releve de forclusion), provided by Article L.622-26. This application is heard by the supervisory judge alone.

Two cumulative conditions: the creditor’s default must not be attributable to them – they must demonstrate that they were unable to file within the period, or that their default resulted from the debtor’s omission in establishing the list of creditors. Simple negligence, an oversight, or a representative who failed to monitor the file: none of these constitute an impossibility within the meaning of the statute.

The application must be made within a pre-emptive period of six months from publication of the opening judgment in the BODACC. This period cannot be extended, unless the creditor demonstrates absolute impossibility of knowing the existence of their claim before its expiry: in that exceptional case, the period runs from the date on which it is established they could no longer be unaware (Art. L.622-26, final paragraph, as amended by Ordinance 2021-1193).

If the supervisory judge grants relief, the creditor has a halved period (one month instead of two) to file, running from notification of the relief decision. They then participate only in distributions subsequent to their application.

Pitfalls to avoid

The proof of debt appears simple in form, but costly errors are numerous. Here are the situations encountered most frequently.

Forgetting to mention the security interest. This is the most consequential error for secured creditors. A banker who declares a mortgage-backed claim without specifying the nature and scope of the mortgage will be admitted to the liabilities as an unsecured creditor – losing their priority rank and their right of preference over the property sale proceeds. The omitted security becomes unenforceable against the proceedings. Always verify that each security is described with precision.

Failing to monitor the BODACC. The two-month period runs from BODACC publication, not from when you learn of the proceedings. If your client files on a Friday and the BODACC publication occurs the following week, the clock starts – even if you were not directly informed. For all significant debtors, regular BODACC monitoring (bodacc.fr) or a third-party alert service is essential.

Relying on the debtor’s declaration. Article L.622-24 provides that where the debtor has brought the claim to the mandataire’s attention, it is presumed to have acted on the creditor’s behalf. This presumption is temporary and conditional. It does not protect you if the deadline expires without your having filed. Never rely on the list submitted by the debtor.

Declaring an incomplete or inaccurate amount. Since the 2021 ordinance, an irregular declaration may be declared unenforceable. Ensure you include not only the principal due at the date of the opening judgment, but also accrued interest, accessories, and sums falling due if the claim is future. A rushed declaration made the day before the deadline is often an incomplete one.

Ignoring the reduced deadline after relief from time-bar. If you obtain relief from time-bar from the supervisory judge, the filing deadline is halved – one month. This runs from notification of the relief decision. A creditor who obtains relief and lets this new deadline pass finds themselves worse off than before: they have incurred costly proceedings without benefit.

Frequently asked questions

What is the deadline for filing a proof of debt in French insolvency proceedings?

The deadline is two months from publication of the opening judgment in the BODACC, pursuant to Article R.622-24. It applies to safeguard, judicial reorganisation, and judicial liquidation alike. It extends to four months for creditors not resident in metropolitan France.

What happens if a proof of debt is not filed in time?

The creditor is time-barred (forclos): excluded from all distributions and dividends. Their claim and any attached security interests become unenforceable against the debtor during plan execution and afterwards (if plan obligations are met). Unenforceability extends also to natural person co-obligors and guarantors. Relief from time-bar is possible within six months of BODACC publication, if the creditor demonstrates their default was not attributable to them.

Who must file a proof of debt?

All creditors whose claim arose before the opening judgment, with the exception of employees (covered by the AGS) and maintenance creditors. The declaration may be made by the creditor personally or by any representative – lawyer, accountant, finance director.

How should a proof of debt be addressed to the mandataire judiciaire?

By registered letter with acknowledgment of receipt or direct delivery against receipt. The CERFA form No. 10021*01 is available from the court registry website. The declaration must include: creditor identity, amount due at the opening date, future sums with maturity dates, nature and scope of any security, and a certification of accuracy (unless the claim arises from an enforceable instrument).

Must uncertain or disputed claims be declared?

Yes, imperatively. Article L.622-24 is explicit: the declaration must be made even where the claim is not established by a written instrument. Claims whose amount is not yet definitively fixed are declared on the basis of an estimate. Failing to declare a disputed claim in the hope of consolidating it before filing is an error: the time-bar runs regardless of the state of litigation.