Marguerite
Schaetz
Schaetz
Lawyer
Restructuring and insolvency
Overcoming obstacles, seeing you through difficult times
The restructuring and insolvency department provide understanding and specialised expertise regarding the financial and accounting equilibrium of a company and its financial transactions, (particularly LBOs).
Ad hoc mandate/ conciliation
Amicable and confidential procedure to prevent problems for a debt agreement and/or new resources.
Administrative receiver
An entity designated by the Courts to monitor, assist or, less frequently, represent the company under a liquidation, insolvency or judicial review procedure.
Alert
Procedure initiated by an external auditor or employee representatives in order to question the directors and shareholders on the decisions to be taken to safeguard their operating continuity.
Bankruptcy Judge
A Judge designated especially by the Court in order to follow the development of a protection, liquidation or judicial review procedure.
Declaration of claim
Step taken by a creditor in order to have their debt recognised and acknowledged.
Disciplinary action
Procedure initiated by a legal representative or public prosecutor against a director at fault which can lead to the payment of all or part of the company’s debt.
Inspector
Creditors designated by the Court in order to follow up the procedures and give their advice.
Judicial review
Judicial proceedings for companies in a state of suspension of payments so they can continue operating while freezing its previous debts.
Liquidation
Proceedings for the sale of the company (or part of a company) and he redistribution of assets.
New money privilege
Security granted to creditors providing new money to a company as part of a conciliation procedure in the form of an agreement approved by the Court.
Observation period
A period during which a company in conciliation or insolvency continues its activity pending the development of protection or continuance scheme.
Protection
Judicial proceedings for a company, which, although not in a state of insolvency, is not able to overcome its financial problems. This freezes debts that are due and accruing pending the submission of a repayment plan.
Protection scheme and continuance plan
Scheme for repaying debts arising prior to a period not exceeding 10 years.
Suspect period
Period between the two states of a suspension of payments and the opening of a court-led conciliation and liquidation procedures.
Suspension of payments
When a company is unable to deal with temporary financial difficulties, this procedure allows a trader to suspend payments to creditors.
Transfer/cession plan
Plan to organise the cession of the company with continued activity in the context of a reorganisation or bankruptcy.