A public and competitive process

2023 closed with a significant rise in the number of insolvencies in France. With a total of 56,200 insolvency proceedings (redressement judiciaire and liquidation judiciaire), mainly in the retail sector, the opportunities for taking over a business at the bar of a court are multiplying.

However, these takeovers are governed by a strict timetable and formalities, requiring a thorough understanding of the workings of insolvency law.

Clydesdale Bank Plc v. (1) R Gough (t/a JC Gough & Sons) (2) Anne Michelle Gough [2017] EWHC 2230 (Ch)

 (1) Citicorp Trustee Company Limited and (2) Golden Belt Sukuk Company BSC v. (1) Maan Al-Sanea and (2) Saad Trading, Contracting and Financial Services Co [2017] EWHC 2845 (Comm)

In this case, the High Court considered whether valid service had been effected upon two defendants based outside of the jurisdiction who had shown no willingness to be involved in the proceedings.

This newsletter refers to Restructuring, Insolvency and Bankruptcy news of November 2014.

H.A.M.A.C: adoption de la première sauvegarde accélérée

Le 19 septembre 2014, le tribunal de commerce de Nanterre a ouvert la toute première procédure de sauvegarde accélérée au bénéfice de H.A.M.A.C, la société holding du groupe Alma Consulting, auquel appartient le cabinet de conseil Alma Consulting Group.