 On 19 November 1962, Morane-Saulnier filed for bankruptcy, and in January 1963 was placed under the control of Potez, which established the (SEEMS) to manage its assets.On 20 May 1965, Sud Aviation acquired SEEMS from Potez, forming (GEMS).In early 1966, Sud Aviation created another new subsidiary, SOCATA, to continue development and production of the Rallye series.