The July 26th, 2005 French law on the protection of companies has greatly amended the existing 1985 legal clauses concerning companies in difficulty, especially in terms of collective legal actions.
If the state of bankruptcy - that is one’s inability to pay its creditors with its remaining assets - remains the centrepiece of the legal system, this new right of collective legal action has enabled more room for prevention.
We intervene alongside our clients and their legal advisers to draw up expert reports covering a whole range of issues concerning companies in difficulty and collective legal actions, most notably on the following subjects:
The setting of Date of Declared Bankruptcy
The existence of an Irreversibly Compromised Situation
The existence of an Improper Support
The Existence of a Management Fault.