Table of contents
- Why is this case of interest?
- What is the background to the case?
- What is the French Sauvegarde procedure?
- What were the issues?
- What did the court decide?
- What would have been the position if additional instalments were due under the loan?
- What was the jurisdiction issue?
- What are the practical implications of the case?
Article summary
Banking & Finance analysis: In this briefing, the Lexis®PSL Banking & finance team discuss the recent case of Emerald Pasture Designated Activity Co v Cassini SAS, which raised an interesting question as to the enforceability of undertakings in a loan agreement while the borrower was in French insolvency proceedings.
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