Mapping Preventive Restructuring Frameworks and the EU Directive on Restructuring and Insolvency. Country Report: France

Ghio, Emilie and Omar, Paul (2020) Mapping Preventive Restructuring Frameworks and the EU Directive on Restructuring and Insolvency. Country Report: France. JCOERE project.

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E. Ghio and P. Omar, Mapping Preventive Restructuring Frameworks and the EU Preventive Restructuring Directive. Country Report- France (2020).pdf - Published Version

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Abstract

Compared with other countries which we have surveyed for the JCOERE project, the approach of France to restructuring has been developed incrementally since the 1980s with continued reassessment and development over time. The sauvegarde procedures described below are covered by the EIR-Recast 2015 which is interesting in terms of future developments when we compare which rescue processes are outside or within the Regulation. None of these procedures specifically allows for cross class cram down, which is the corner stone to a robust restructuring process. However, it would seem that further reforms, anticipated in light of the PRD 1023/2019, will address this issue. The prevention of insolvency proceedings and the consequent rescue of dependent businesses and preservation of jobs are amongst the stated policy goals.

Item Type: Other
Date: 1 July 2020
Subjects: M200 Law by Topic
Divisions: Faculty of Business, Law and Social Sciences > School of Law
REF UoA Output Collections > REF2021 UoA18: Law
Depositing User: Emilie Ghio
Date Deposited: 29 Sep 2020 11:46
Last Modified: 02 Oct 2020 11:10
URI: http://www.open-access.bcu.ac.uk/id/eprint/9967

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