Time to stay calm and act rationally by Jocelyn Martel

In January 2020, the world woke up facing a phenomenon that some had predicted but few wanted to hear about or were prepared for: a global pandemic, now commonly called the COVID-19 crisis. Immediately, many economists were convinced that the world was heading for a stock market crash and an economic crisis. They were right. The stock market sank, and all countries that imposed strict lockdown measures face a significant contraction in their GDP.

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When environment meets insolvency by Emmanuelle Inacio

Environmental protection and sustainable development are nowadays a global concern to such an extent that the question of the link between environment and insolvency must be raised.

Indeed, a company facing a pre-insolvency or an insolvency procedure may cause damages to the environment or risk causing damages to the environment in two scenarios.

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France: An update of French Law on insolvency by Jean-Luc Vallens

Amendments of the Commercial Code by the “Loi Pacte” of 22 May 2019. With the adoption of the Law No. 2019-486 of May 22, 2019 (Action Plan for the growth and transformation of enterprises – “Loi Pacte”), some technical improvements should be mentioned.

Indeed, among several amendments introduced to the French commercial code, some provisions modify the current rules on insolvency. These changes are made before a major reform expected in the coming two years, as a consequence of the implementation of the Directive 2019/1023 of 20 June 2019.

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Crypto-currencies in insolvency proceedings in France: Dealing with highly volatile assets by Anja Droege Gagnier and Léa Marlière

Born in the early 2010's, crypto-assets have gradually gained ground in the real economy thanks to services allowing them to be purchased or sold in exchange for national currencies, to be stored, or to be used as a financing instrument within Initial Coin Offerings (ICOs).

There are now nearly 1,600 crypto-currencies in circulation. Three of them, namely Bitcoin, Ethereum and Ripple, dominate digital transactions and capitalisations.

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Books Reviews by Paul J.Omar and David Ehmke

L’Application du règlement 1346/2000 relatif aux Procédures d’Insolvabilité aux Groupes des Sociétés (The application of the European Insolvency regulation to corporate groups: an Anglo-French perspective) by Myriam Mailly.

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France is catching up by Reinhard Dammann   

The Draft Bill “PACTE” (the “Draft Bill”), which will be under discussion in the French Parliament in September 2018, contains several reforms intended to allow the Government to transpose by anticipation the future Directive on preventive restructuring frameworks (the “Directive”), itself largely inspired by the French preinsolvency proceedings.


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Country Report_France - by Catherine OTTAWAY

While in 2016 France showed a slight recovery in its economic activity and a certain decline in the opening of collective proceedings, 2017 marked a significant revival, with figures approaching those prior to the 2011 crisis. Moreover, INSEE announced on January 30th, 2018, a 1.9% GDP growth for the year 2017. Applauded by all, some economists and the media have even called this year ‘the year of take-off’.
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The status of Judicial administrators in France - by Isabelle DIDIER

It is not an easy feat for a trained lawyer to sift through the different roles and responsibilities that a French judicial administrator is empowered to address. Even more so when the person seeking information has no legal training whatsoever. I will therefore take this opportunity to thoroughly explain, once and for all, and in layman’s terms, the roles of the two very distinct insolvency professions operating under judicial authority in France.
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Latest judgements in insolvency matters rendered by the French Supreme court

Individual entrepreneurs According to a recent case, the liquidator may be able to initiate a lawsuit against an individual entrepreneur debtor for avoiding the prohibition of seizure of his/her personal flat or home. The court added that this action is possible but only if it can be demonstrated that legal publications are not valid (Cass.com., 15 Nov. 2016). Transfer of a company as a going concern A recent case illustrates the conditions in which the transfer of the troubled company or of a branch of its activities as a going concern may be valid.
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