The PRJ starts with the filing of a request which results in the appointment of a delegated judge. The latter will follow the company throughout the proceedings but will first report to the court on the admissibility of the petition at the hearing to be held within 15 days of the filing thereof. If the judgment is favourable, a suspension of payment will be granted, the creditors will be informed and the company in distress will ensure, depending on the objective proposed in the request,
- To find individual agreements with its creditors, if there are not to many
- To present a repayment plan (called a reorganization plan) which must receive the approval of the majority of creditors
- To appoint a legal representative who will ensure the sale of all or part of the business or assets of the company in distress while saving as many jobs as possible