Where the declaration of cessation of payments is filed beyond the legal period of 45 days, the court may order the ruler or head of company to prohibition on managing. This is not an automatic sentence. In order to pronounce this penalty, the court inquires whether the head of company or head of state has deliberately delayed, or not, to declare the cessation of payments. It is from the moment when the manager becomes aware of the state of cessation of payments that he must request the opening of a judicial reorganization or liquidation procedure. If the court succeeds in showing that the head of company had a sufficient knowledge of the state of cessation of payments, it shall impose the penalty. Example : An executive selling business stakes in the hope that business will pick up is well aware of the magnitude of the difficulties. In this case, the court can sentence him to a management ban. If, on the other hand, a manager has not declared the cessation of payments because he does not have sufficient knowledge of the financial situation of the company, the court does not impose a penalty. En savoir plus sur Entreprendre.Service-Public.fr