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INSOL Europe/LexisNexis coronavirus (COVID-19) Tracker of Insolvency Reforms—France

INSOL Europe/LexisNexis coronavirus (COVID-19) Tracker of Insolvency Reforms—France
Published on: 21 April 2020
Published by: LexisPSL
  • INSOL Europe/LexisNexis coronavirus (COVID-19) Tracker of Insolvency Reforms—France
  • Change of the insolvency test
  • Extension of time limits in pre-insolvency proceedings
  • Extension of time limits in insolvency proceedings
  • Extension of safeguard or reorganisation plans
  • Reduced time limits in the payment of employees’ claims guaranteed by the AGS
  • Special communication between the courts and the insolvency practitioners
  • Special communication between insolvency practitioners and companies
  • Measures introduced by the courts to deal with increased insolvency cases
  • Other pending reforms

Article summary

Restructuring & Insolvency analysis: The emergency law n° 2020-290 of 23 March 2020 empowers the French government to take inter alia, by ordinance, any measure modifying the insolvency law contained in Part VI of the Commercial Code if required to deal with the economic and financial impact of the coronavirus (COVID-19) epidemic for companies. The French Government adopted the ordinance n° 2020-341 of 27 March 2020 which provides provisional amendments to the insolvency law in order to mainly promote the access to preventive proceedings and extend statutory time limits of insolvency proceedings. Written by Jean Baron, member of INSOL Europe, Sebastien Normand of CBFASSOCIES and Emmanuelle Inacio of Université du Littoral Côte d’Opale, member of INSOL Europe. or take a trial to read the full analysis.

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