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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Text E. Ghio and P. Omar, Mapping Preventive Restructuring Frameworks and the EU Preventive Restructuring Directive. Country Report- France (2020).pdf - Published Version Download (231kB)

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
Dates:	Date Event 1 July 2020 Accepted 1 July 2020 Published
Subjects:	CAH16 - law > CAH16-01 - law > CAH16-01-01 - law
Divisions:	Faculty of Business, Law and Social Sciences > College of Law, Social and Criminal Justice
Depositing User:	Emilie Ghio
Date Deposited:	29 Sep 2020 11:46
Last Modified:	03 Mar 2022 15:54
URI:	https://www.open-access.bcu.ac.uk/id/eprint/9967

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