Our topic is about the suspension of payment.

The concept of a firm in

difficulty is broad enough to confine it to a fairly precise definition or a well-
defined concept.

The suspension of payment is the situation in which a firm has no longer

enough liquidity to meet its debt obligations and is therefore a factual
situation. It is different from insolvency, which is a rule of law. The Law n°73-17
of Firms in Difficulty, provides that the suspension of payment is established
when the firm is unable to meet its liabilities with its available assets, including
the claims resulting from the commitments made in the framework of an
amicable agreement between the company and some of its creditors.

Suspension of payment is a condition for initiating judicial receivership and

liquidation proceedings. In fact, a company that can no longer take advantages
from the preventive regulations must follow the collective proceedings. These
proceedings are considered as a whole process that takes place under the
auspices of the jurisdiction with the help of certain organs. These bodies have
the decision-making power and authority in the management of companies in
difficulty.

Starting a collective proceeding requires the company to submit a request on

plain paper, to the commercial court, accompanied by an account of the events
on which the request is based, a detailed estimate statement of its assets and
liabilities, and a list indicating the names of creditors of the company, their
addresses and the amount of their claims. Then, the court grants a definitive
approval for the suspension of payment and decides the opening of legal
redress or judicial liquidation proceedings

In this topic, we will try to compare the concept of the suspension of payment
in law and in case law. Many questions can arise at this level, the most
important of them are:

How the case law defines this concept? How to calculate the suspension of
payment? And what is the difference between the date of the suspension of
payment in Morocco and France?