Analysis of the opportunity
Accelerated audit of the acquired scope (assets, key contracts, employees, leases), assessment of the commitments to be assumed and of the residual risks.
→ Restructuring · Sub-expertise
Taking over a distressed company is a strategic opportunity: cost-optimised assets, purging of security interests, a start with a team already in place. We support buyers (industrial players, funds, managers) in drafting the offer, negotiating the scope and securing the effective takeover.
→ What we cover
Accelerated audit of the acquired scope (assets, key contracts, employees, leases), assessment of the commitments to be assumed and of the residual risks.
Drafting of an offer compliant with the procedural requirements: precise scope, price, employment commitments, financing, completion timetable.
Negotiation with the judicial administrator and the debtor of the exact scope (assets, contracts to be transferred, contracts to be excluded, employees), arbitration of the sensitive points.
Calibration of the number of jobs retained, management of transferred employment contracts (article L. 1224-1), retention commitments over a defined period.
Preparation of the advocacy file for the court, presentation at the hearing, response to the observations of the other parties (administrator, representative, employees).
Implementation of the selected plan: signing of the disposal deeds, payment of the price, transfer of assets, integration of the employees, operational start-up.
→ Our approach
01
Rapid examination of the file (scope, assets, contracts, employment, finance), identification of the opportunities and risks, validation of the strategic interest.
02
Drafting of the offer in compliance with the law, calibration of the price, scope and commitments, coordination with bank or equity financing.
03
Discussions with the administrator and the stakeholders to adjust the scope and commitments, possible improvement of the offer.
04
Presentation to the court, defence of the offer, judgment, signing of the deeds and operational integration.
→ Who we help
A sector player taking over a distressed competitor to consolidate its market: offer targeted at the key assets and contracts, measured employment commitments.
A fund specialised in turnarounds taking over a business with a transformation plan: offer including an investment programme and a management plan.
An offer by the long-standing managers to take over their company, structured with a partner fund and dedicated bank financing, in compliance with the legal restrictions.
Targeted acquisition of a specific business line, isolating the useful assets and contracts, without taking over the entire scope of the distressed company.
→ Q&A
Any third party: an industrial player, an investment fund, an individual buyer, internal managers (under conditions). The director in office and their close relations may not in principle take over, except with the prosecutor's authorisation in limited cases.
Commitments on job retention (number of employees retained and duration), on the sustainability of the business, on the payment of the price, on any investments. Compliance with these commitments may be subject to judicial review after the takeover.
No, this is the major advantage of the disposal plan: the buyer acquires assets purged of security interests and does not inherit the prior liabilities (save for limited exceptions). This allows the business to be restarted with a sound financial structure.
The buyer is exposed to civil sanctions (termination of the plan, compensation), and even criminal ones in the event of a serious and deliberate breach. The commitments must therefore be realistic and honoured, on pain of legal and reputational exposure.
→ Go further
Let's talk. We respond within one business day to qualify your transaction and direct you to the firm's most suitable lawyer.
Get in touch→