Petition & opening
Preparation of the petition to the president of the court, selection of the conciliator, definition of the mission. Opened for 4 months, renewable once.
→ Restructuring · Sub-expertise
Conciliation extends the spirit of the ad hoc mandate by adding the possibility of obtaining judicial sanction of the agreement reached, which provides strong legal security (new money priority, stay of individual enforcement actions). We support directors and creditors in choosing between acknowledgement and sanction, and in conducting the procedure.
→ What we cover
Preparation of the petition to the president of the court, selection of the conciliator, definition of the mission. Opened for 4 months, renewable once.
Identification of the creditors to be included (banks, tax authorities, URSSAF, landlord, strategic suppliers) and construction of a coherent restructuring plan.
Support during the negotiation sessions under the supervision of the conciliator, coordinated with any new money contribution from an investor or shareholder.
Choice between acknowledgement (agreement simply recorded by the president, without publicity) and sanction (public judgment conferring the new money priority).
Securing of fresh-money contributions (new money) through the conciliation priority: priority repayment in the event of subsequent insolvency proceedings.
Operational implementation of the agreements, monitoring of commitments and anticipation of a possible shift towards more formal proceedings should the situation deteriorate.
→ Our approach
01
Analysis of the situation, verification of eligibility (financial difficulties but a suspension of payments dating back less than 45 days), preparation of the petition.
02
Hearing before the president, appointment of the conciliator, setting of the mission and the timetable.
03
Conduct of multi-party negotiations under the supervision of the conciliator, progressive structuring of the agreement and possible search for new financing.
04
Choice of finalisation method, signing of the agreement, presentation to the court, publicity formalities (in the event of sanction) and implementation.
→ Who we help
Conciliation involving senior and junior banks, the tax authorities and URSSAF, to reschedule the debt and obtain an overall sanctioned agreement securing the new money.
Procedure serving as a framework for the arrival of a new shareholder or a turnaround fund, with a capital contribution secured by the priority.
Conciliation used to prepare in advance the orderly disposal of the company, which will then be carried out within the framework of insolvency proceedings.
Restructuring of an LBO through a conciliation: partial debt-to-equity conversion, entry of a new investor, securing of the banking commitments.
→ Q&A
The ad hoc mandate has no maximum duration and remains entirely informal. Conciliation is more structured (maximum 4 months + 1 month), allows sanction by the court and confers the new money priority. Conciliation is also available where the suspension of payments dates back less than 45 days.
Acknowledgement is more discreet (no publicity) but confers no priority. Sanction is public but provides legal security for the agreement (stay of individual enforcement actions, new money priority for fresh-money contributions). The choice depends on the stakes and sensitivity to confidentiality.
It is a payment priority granted to those who have provided fresh funds within the framework of a sanctioned agreement: in the event of subsequent insolvency proceedings, these claims are repaid first (ahead of prior creditors and many subsequent creditors). A powerful lever for attracting financiers.
Yes, if the agreement is not reached within the time limit. The company may then shift towards insolvency proceedings (safeguard, judicial reorganisation). But the conciliation will have advanced the analysis and identified the possible solutions. Anticipating the potential shift is part of the strategy.
→ Go further
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