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