France

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Delta Drone Investors Fined for Insider Trades on Financial Woes

A pair of investors in Delta Drone were fined a combined 600,000 euros ($520,000) for selling shares when they had non-public information in 2014 about the company’s financial difficulties, Bloomberg News reported. The Autorite des Marches Financiers fin ...

Daily Headline - global.abi.org - 04/18/2018 - 22:58 - 0 comments

Country report from the Netherlands

The Dutch Minister’s announcement of a multi-disciplinary approach to combat bankruptcy fraud has lead to a legislative programme that went into force last year, wherein the duty of the trustee is extended to combat bankruptcy fraud. Attachme ...

Resource Article - twallace@abiwor... - 04/03/2018 - 10:48 - 0 comments - 1 attachment

PSA Says Ready to Part With Gefco Stake

PSA Group no longer needs its 25 percent stake in its former logistics division Gefco, the maker of Peugeot and Citroen cars said on Monday after French newspaper Les Echos reported that the holding had been put up for sale, the International New York ...

Daily Headline - global.abi.org - 03/26/2018 - 21:18 - 0 comments

President Macron Can’t Escape Burden of Old Debts

With much of the world apparently in the grip of Macron-mania, perhaps a note of caution is warranted, The Wall Street Journal reported. Without doubt the young French president is the man of the moment: In just eight months since taking office, Emma ...

Daily Headline - global.abi.org - 02/05/2018 - 01:32 - 0 comments

Court Questions Funding for Liberty House Bid for Steelmaker Ascometal

The Strasbourg court in charge of selling troubled French steelmaker Ascometal has raised questions over public funds as part of the bid by UK-based metals and industrials firm Liberty House, a union representative at the hearing told Reuters. Asked abou ...

Daily Headline - global.abi.org - 01/29/2018 - 00:29 - 0 comments

Macron Reforms Will Boost Eurozone, Says Poll of Economists

Emmanuel Macron’s attempts to revamp France’s labour market will spur economic growth and boost confidence but their impact will take time to have an effect, according to a Financial Times survey of eurozone analysts. The poll of 34 economists conduc ...

Daily Headline - abi_admin - 12/28/2017 - 23:00 - 0 comments

French Steel Firm Ascometal Attracts Four Bidders

Troubled French steelmaker Ascometal has drawn interest from four potential buyers, union officials said on Tuesday, with commodity group Liberty House and Swiss steel firm Schmolz + Bickenbach confirming their interest, Reuters reported. Ascometal, whic ...

Daily Headline - global.abi.org - 12/19/2017 - 22:48 - 0 comments

Senior management responsibility in banks

Regulators have made clear their view that responsibility for the culture of a bank sits at the top; if senior management create the right culture, good regulatory practice and procedures will naturally follow. Following the financial crisis banks’ s ...

Resource Article - twallace@abiwor... - 11/08/2017 - 10:02 - 0 comments - 0 attachments

The French insolvency regime moves forward

In the last few months, a set of new measures has been implemented in order to improve the efficiency of the commercial justice in France. These measures cover the substantive insolvency law as well as the institutional framework. New measures re ...

Resource Article - twallace@abiwor... - 10/26/2017 - 14:52 - 0 comments - 1 attachment

Creditors Accept Restructuring Plan for Oil Services Group CGG

The creditors of debt-ridden oil services group CGG have accepted CGG’s chapter 11 bankruptcy plan, CGG said on Monday, in what could form one of the biggest restructurings that France has seen in recent years, Reuters reported. CGG has debt in excess of ...

Daily Headline - global.abi.org - 10/02/2017 - 20:01 - 0 comments

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