Sale Plan (Plan de Cession): Buying a Distressed Company in France
A sale plan (plan de cession) organises the takeover of a business in difficulty in order to save the business activity and jobs. Objectives, procedure and effects explained by our lawyers.
SARL Insolvency Filing: Consequences and Liability for the Manager
Does filing for insolvency put the manager of a SARL at risk on their personal assets? Liability, risks and protections explained by our lawyers.
Conciliation Procedure in France for Companies in Difficulty
The conciliation procedure, set up by the business safeguard law of 26 July 2005, is an amicable procedure that assists the company in resolving its…
How Do Insolvency Proceedings Work in France?
Insolvency proceedings in France cover three procedures: safeguard, judicial reorganisation and judicial liquidation. Conditions, steps, court-appointed officers and the role of creditors.
Mandat ad hoc in France: Definition and Procedure
The mandat ad hoc is a preventive and confidential procedure under the French Commercial Code. Definition, role of the mandataire, steps and differences from conciliation.
Safeguard Proceedings in France: How to Prevent Insolvency
Safeguard proceedings, provided for by Article L620-1 of the French Commercial Code, are aimed at companies in serious difficulty but not yet insolvent…
Safeguard, Receivership or Liquidation: French Insolvency Procedures Compared
Safeguard proceedings apply before the cessation of payments, to restructure the business; judicial reorganisation and judicial liquidation apply to a business that has ceased payments.
Creditor Rights in French Insolvency Proceedings: What Changes for Creditors
From the opening judgment, actions by prior creditors are stayed and payment of prior debts is prohibited.
