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Judicial liquidation: consequences for creditors and realisation of assets
The opening of a judicial liquidation against your debtor does not mean that you will get back what you owe: creditors are subject to strict collective discipline, with deadlines to be met and an order of payment that ultimately determines what each will receive. Understanding the mechanism for realising assets and classifying claims is essential if you are to maximise your chances of recovery.
Collective proceedingsExecutive sanctions: procedure and remedies
Your company is in difficulty and the trustee or the public prosecutor is considering taking action against you. Sanctions against directors - insufficient assets, personal bankruptcy, management ban - are governed by separate procedures with their own deadlines and courts. Understanding these rules is the first step in organising your defence.
Collective proceedingsPersonal bankruptcy and prohibition on management: the professional risks for the manager
You run a company that is in receivership or liquidation: in addition to the financial losses, you are personally exposed to personal bankruptcy or a management ban. These civil penalties, imposed by the court, can keep you out of the business world for up to ten years. We take a closer look at the types of behaviour that can be punished, the criteria used by the court in its assessment, and the remedies available.
Collective proceedingsAccelerated Safeguarding: a fast way to restructure your company's debts
Your company is experiencing difficulties but a restructuring agreement is already in sight with the majority of your creditors - a few recalcitrants are blocking the conclusion. The accelerated safeguard procedure makes it possible to impose this plan judicially within a few weeks, without waiting for conventional collective proceedings. In-depth reformed by the Order of 15 September 2021, this procedure is now the most effective tool for restructuring debt while preserving the business.
Collective proceedingsUnpaid vendors, lessors, secured creditors: specific situations in the event of insolvency proceedings
Your debtor's insolvency proceedings have just been opened and you don't know whether your security allows you to escape the stay of proceedings rule. Unpaid vendors, lessors, mortgage creditors or trust holders: each security has its own rules, with strict deadlines and conditions for admission. This guide explains the rights of each category of creditor.
Collective proceedingsSafeguard plan, recovery plan, sale plan: what outcomes for a company in difficulty?
Safeguard, reorganisation, sale: at the end of insolvency proceedings, the fate of the company depends on the choice and implementation of the plan. Each procedure has its own conditions and effects, which management and creditors need to master. This overview covers all three outcomes, from preparation to closure.
Collective proceedingsOpening insolvency proceedings: the legal process explained
Your company can no longer meet its debts and insolvency proceedings are looming: taking your case to court is subject to specific rules on jurisdiction and admissibility, and failure to comply with these rules can cost you weeks of business. Who can initiate proceedings, before which court and in what form? Here's a step-by-step guide to the judicial process, the players appointed by the court and the opening judgement.
Collective proceedingsJudicial liquidation: understanding the procedure for selling a company's assets
Your company can no longer meet its debts and reorganisation is out of the question. A judicial liquidation is then opened to sell the assets and repay the creditors in a strictly defined order. Knowing about this procedure means anticipating your rights and obligations before the court rules.
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