Jurisprudence immobilière : analyse et conseils pratiques

Application pratique:

Under Article 477 of the Commercial Code, any payment made other than in cash or by bill of exchange during the 15 days before (or after) the cessation-of-payments date is unenforceable against the body of creditors (la masse) — and the Cour de cassation confirms that a bank transfer counts as such a payment. The liquidator can therefore claw back the €38,000 from the supplier, who must repay it into the estate. Property professionals dealing with a company showing signs of financial distress should insist on cash or bills of exchange, or better, suspend dealings until solvency is confirmed, and keep dated proof of any payment received.

Application pratique:

The ruling extends Article 477's protection to indirect payments: when a debtor orders his own debtor (here, the tenant) to pay a third party, and that order is executed, it is treated exactly like a direct payment other than in cash or bills of exchange. Because the instruction was given within the 15-day suspect period, the receiving creditor can be forced to return the €15,000 to the liquidation estate. Anyone receiving a payment arranged this way from a landlord or property company in financial difficulty should check the company's financial health first and retain all transfer records, since the payment may later be reversed regardless of good faith.

Application pratique:

Because the Cour de cassation treats bank transfers as payments "other than in cash or bills of exchange," this transfer falls squarely within the 15-day suspect period defined by Article 477 and can be annulled by a court-appointed liquidator. The syndic (co-ownership manager) could therefore be ordered to repay the €7,000 into the insolvent company's estate, even though the debt itself was genuine. Co-ownership managers and syndics should verify the financial standing of a debtor company before accepting late payments and keep a paper trail, and should seek legal advice promptly if a clawback claim is raised.