The first reorganization plans to be approved under the fast-track ‘crisis recovery’ proceedings (procédure de traitement de sortie de crise) France introduced last June are coming out. These proceedings, which were specifically designed to deal with the fallout from the pandemic, are now beginning to bear fruit. Sometimes described as simplified court-supervised reorganization, these proceedings aim to provide very small businesses (SMEs) with a real opportunity to turn their fortunes around. Here is a one-year look at this emergency measure.
Column by our Restructuring – Distressed M&A partner Numa Rengot, co-authored by Marouan Fawzi, published in Option Droit & Affaires magazine, issue No. 578 of March 30, 2022.
