French Bankruptcy Law Becomes More Creditor-Friendly

26 March 2014
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The French Government has just published a new regulation (ordonnance n°2014-326 dated March 12, 2014) amending France’s bankruptcy law.

Key takeaways

  • Pre-insolvency consensual procedure (‘conciliation’) to be encouraged
  • New stay in pre-insolvency consensual proceedings
  • More power given to creditors in formal insolvency proceedings
  • Debt for equity swaps facilitated 
  • Accelerated ‘safeguard’ procedure extended to bind all creditors