SORGEM Evaluation is pleased to announce that Blanche Feauveaux has recently been named partner.
The date of default on payments is set by the tribunal according to a definition explaining that a default on payments arises when a company’s “assets are unable to meet the total liabilities due at that date”. This date is especially important because all actions engaged by the company between the date of default and the date of initiation of insolvency proceedings – suspect period – may be annulled.
Our approach for determining the date of default on payments is distinguished by taking into account three complementary dimensions, namely:
- An accounting dimension: Due liabilities and available assets are first and foremost are defined by accounting principles
- A financial dimension: A state of default on payments is determined by analyzing a company’s cash inflows and outflows, including their cyclical nature
- An economic dimension: the overall analysis must be based on a detailed macroeconomic and structural study of the default on payments. This allows us to establish a preliminary opinion on the company sustainability
Our scope of intervention include the following situations:
- Analyze the state of default on payments at the request of a distressed company’s management
- Assist creditor representatives, administrators or liquidators in postponing the date of default on payments
- Analyze a company’s debt
- Establish a company’s financial sustainability
- Furnish an analysis of responsibilities
- Write a report, on behalf of the plaintiff or the defendant, that includes all the necessary elements required to establish a date of default on payments
- Prepare response to opposing counsel arguments
- Assist the client during judicial proceedings: court procedures, financial expertise, etc.