What happens if a co-owner has his assets seized?
First of all, it is important to know that, in the case of foreclosure, seizure of the partnership interests of a civil society, which is more difficult to accomplish than foreclosure of property, is not the method generally preferred in the chronological order of methods used to recover debts. Therefore, a creditor will, for example, be interested in seizing other assets of its debtor (bank accounts, etc.) first. In the event that the proceedings lead to the seizure of the company’s shares, the debtor has the option to sell his shares amicably after the bailiff has seized them. If the debtor does not make use of this option, the bailiff will carry out a forced sale of the share. Unlike an execution, this is not a court proceeding. An auction of the share is then organised. The other shareholders are not affected.