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