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L.513-11 CMF

Posted on 9 September, 2022 - 11:35 | Category : .

Notwithstanding legal provisions to the contrary, and in particular those mentioned in book VI of the Code de Commerce:

1. The sums resulting from the loans or receivables considered as loans, exposures and debt securities referred to in articles L.513-3 to L.513-7 including, where applicable, in respect of mortgages, guarantees, accessories and indemnities relating to these assets, financial instruments mentioned in Article L. 513-10 , after compensation if required, as well as the assets resulting from the deposits made by the SCF with credit institutions, are allocated by priority to the payment of the obligations foncières and other sources of funds benefiting from the privilege as stated in paragraph 2 of part I of article L.513-2;

2. When an SCF is subject to receivership, liquidation or a resolution procedure initiated in accordance with Article L. 613-49, debt obligations arising regularly from the operations referred to in paragraph 2 of part I of article L.513-2 are paid at the contractual due date, and in priority to all other debt, whether or not these liabilities are accompanied by a statutory lien or collateral, including interest resulting from contracts, whatever their duration. No other creditor of an SCF may take advantage of any right whatsoever over the assets and rights of the company in principal and accrued and future interest until the creditors benefiting from the privilege in the meaning of this article have been fully paid;

3. A safeguard, receivership or liquidation procedure or a resolution procedure initiated in accordance with Article L. 613-49 against a société de crédit foncier shall not have the effect of rendering due and payable the bonds and other debts benefiting from the privilege mentioned in 1 of this article. Notwithstanding any provision or stipulation to the contrary, no termination, suspension, modification or set-off of an outstanding forward financial instrument entered into by the société de crédit foncier may result solely from a safeguard, receivership or liquidation proceeding or a resolution proceeding opened in accordance with Article L. 613-49 against it.

The rules defined in paragraphs 1 and 2 above apply to costs related to the operations referred to in paragraphs 1 and 2 of article L.513-2, and to the amounts due, if applicable, under the contracts provided for in article L.513-15.


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