Customer in receivership: what can you do to protect yourself?

When a customer goes into receivership, it's often a cold shower. Payments frozen, uncertainty over current contracts, potential loss of sales... Every year, more than 30,000 companies are affected by receivership proceedings in France, according to Insee). And when you're a supplier or service provider, it's best to react quickly to limit the damage.

Here's how to spot a procedure as early as possible, assert your rights, and prevent an unpaid bill from becoming an abyss. We also explain how HeroPay can help you to better anticipate this type of risk in the future.

Here's what you need to know if one of your customers is in receivership:

Check whether your customer is in receivership via BODACC or Infogreffe
Declare your claim within 2 months of official publication
Send the declaration to the judicial representative with supporting documents and contact details
In the event of delay, apply to the juge-commissaire (official receiver) for a statement of foreclosure.
Your chances of repayment depend on your rank among creditors
Less than 5% of unsecured creditors are repaid
Incorporate a retention-of-title clause to recover your delivered goods
Ask the administrator if the contract will be maintained after the procedure.
Post-judgment claims have priority if contract continues
Use Heropay to reduce customer risk (financing, collection, alerts)

How do you know when a customer is in receivership?

The worst-case scenario is to discover it too late. Fortunately, there are many ways identify a company in difficulty before it suffers the consequences.

Receive official notification from the court or agent

If you are a creditor declared or identified in the company's accounts, you will be notified by mail of the opening of the reorganization.

Le judicial representative will tell you what steps to take to follow, in particular the declaration of claim to be made within 2 months.

Check yourself via BODACC or Infogreffe

The procedure is officially published in the BODACC (Bulletin officiel des annonces civiles et commerciales), available online.

You can also consult Infogreffe for monitor a company's legal situation at any time. A simple alert on a customer file can avoid many surprises.

Set up credit monitoring or insurance

If you work with high-risk customers or in sensitive sectors, consider automating your monitoring.

Services such as Ellisphere, Altares and credit insurers (Coface, Atradius, etc.) enable you to receive an alert as soon as a customer goes into receivership. An invaluable reflex for reacting without delay.

Do I have to declare my claim? Yes, and quickly

As soon as the receivership is opened, your chances of recovering what the customer owes you will depend on how quickly you declare your claim.

2 months from publication in the BODACC

The countdown begins on the date of publication of the procedure in the BODACC. You have exactly 2 months to assert your rights.

After this time, you risk losing all chance of getting your money back, with some exceptions.

How do I fill out and send in a declaration of claim?

La declaration must be sent to the judicial representative appointed in the proceedings. It must include :

amount receivable (excl. + incl. VAT)
due date
supporting documents (invoices, purchase orders, contracts, etc.)
your contact details and bank details

You can send it by registered mail or via the www.creditors-services.com used by many agents.

Relevé de foreclusion: what to do if the deadline has passed?

If you've missed the boat, all is not lost. You can ask the juge-commissaire to lift the foreclosure.

But you'll have to prove that you haven't not informed in time of the procedure. It's a more uncertain process, and one that can take time.

Can I get my money back? What the law says

A claim declaration does not guarantee repayment. The amount you receive (or don't receive) depends on your place in the queue and available assets.

Creditor priority and chances of recovery

The law classifies creditors into several categories:

Employees : priority over everything else.
Tax and URSSAF : well placed too.
Preferred creditors (with security): mortgage, pledge, collateral...
Unsecured creditors With no guarantee, you are served last. Banque de France , less than 5 of unsecured claims are actually paid after a reorganization or liquidation.

The benefits of having a guarantee (security interest, reserve clause, surety)

Suppliers who integrate a retention of title clause in their General Terms and Conditions can reclaim their delivered goods in the event of non-payment.

A personal surety of the manager or a mortgage on a property can also make a difference.

The case where the contract is maintained and claims have priority

If the contract is continued after the reorganization, all new claims subsequent to the judgment are included. priority .

These will have to be settled even before old debts. This can save part of the business relationship... provided the administrator gives you the green light.

What happens to existing customer contracts?

Contrary to popular belief, a receivership does not automatically put an end to contractual commitments.

Contracts are not automatically terminated

The law requires maintenance of current contracts Unless the administrator decides to terminate them. You therefore remain bound, unless the administrator explicitly decides otherwise.

Demand a response from the court-appointed administrator

You can (and must) ask the administrator whether he intends to continue the contract. If no reply is received within one month, the contract is deemed to be maintained.

This point is crucial in determining whether or not you should continue to deliver.

Continued contract: new claims must be paid

Any delivery or service rendered after the commencement of the procedure gives rise to a claim known as a "debt". posterior a priority.

This is often the only chance you have to limit your losses while continuing your customer relationship in a secure environment.

How can I limit future losses with Heropay?

At Heropay We know that every non-payment can jeopardize a company's financial health. That's why we've included practical tools in our offer to help you anticipating customer risks :

Invoice financing With Hero Pro, up to €50,000, you can reduce your exposure: you get paid immediately, and Hero collects for you.
Online payment from 0.4%, secures your payments via links or directly on your site.
The HeroPay pro account with its multiple IBANs, virtual cards and real-time alerts, helps you monitor the health of your customers and manage your cash receipts with greater visibility and responsiveness.

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