On August 6, 2015, France adopted legislation named after the French Minister of Economy, Emmanuel Macron (“Macron Law”), that is designed to promote economic growth, activity, and equal opportunity. What follows is a brief summary of the principal reforms to French insolvency law introduced by the Macron Law. As discussed in more detail below, these measures include the creation of specialized insolvency courts for large cases and the introduction of rules and procedures that permit “cramdown” of shareholder interests in French reorganization proceedings.

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