« The judicial auctioneer is a legal officer responsible for proceeding to the inventory, the valuation and the sale at public auction of furniture and personal effects. »
Duly approved and regulated by the Ministry of Justice, as for notary officers and bailiffs, the SCP Aymard Debussy has a monopoly on the local market for expertise, valuation and public auction.
Article 29 of the French Act of July 10th 2000 gives a definition of the judicial auction sales.
The SCP Aymard Debussy field of intervention is wide since it covers compulsory liquidation, seizure of property, inheritance, guardianship, mortgage, pawnbroker,…
The commercial court can call on the SCP Aymard Debussy for expertise, as well as for public auction sales of furniture and personal effects in the course of a judicial liquidation procedure.
The SCP Aymard Debussy intervenes at the request of the judicial authority. In every case, it plays an important role in the quotation of works of art, industrial and agricultural equipments.
Since the December 1990 decree, implementing in France the 1990 EEC directive, the profession has been enlarged to the European community nationals.
The number of judicial auctioneers in France is governed by the Ministry of Justice according to the market needs.
Judicial auctioneers are grouped in nine regional companies which are controlled by elected courts supervising the respect of law and regulation, and also auction houses accounting.
The judicial auctioneer is under the authority of the Public Prosecutor of the local county court.
The civil liability of the judicial auctioneers and the risk of bankruptcy are covered by a guarantee fund in which they must subscribe.
Judicial auctioneers’ compensation is determined in accordance with the French decree n° 85-382 of March 29th 1985 duly modified by decree n° 2006-105 of February 2nd 2006.
Being regulated and under the authority of the judicial authority, judicial auctioneers are independent and unbiased.