Restructuring

At the first difficulties: cash-flow strain, negotiation with a major creditor, loss of a strategic client. The ad hoc mandate is confidential, fast and does not interrupt operations. It is aimed at companies that are not in a suspension of payments but need a third party to negotiate.

Safeguard is preventive: the director requests it before a suspension of payments in order to obtain protection and negotiate a plan. Judicial reorganisation intervenes after a suspension of payments: the court imposes a framework and may decide on a continuation plan, a total disposal or a liquidation.

In principle no, thanks to the shield of the legal entity. But several actions may engage their personal liability: insufficiency of assets action (mismanagement), extension of the procedure (commingling of assets), tax liability, or accusation of fraudulent bankruptcy. Early support makes it possible to guard against this.

One must identify identifiable candidates, compile a presentation file (scope, accounts, key contracts), negotiate the offers, file them with the court within the framework of insolvency proceedings, then organise the transfer (employment contracts, assets, leases). The disposal plan is decided by the court after hearing the parties.

It is the mandatory declaration by which the director acknowledges the inability to meet the due liabilities with the available assets. It must be filed within 45 days of the suspension, unless a conciliation is requested within the same period. A delay may engage the director's personal liability.