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    Weekly newsletter Italy: from 28 April to 5 May 2014
    2014-05-05

    HR Colsultancy

    JOBS ACT - Fixed term employment contract: potential fines for those companies with 20% or more of their employees on fixed term contracts

    Current proposed amendments by the Jobs Act include (i) replacing the fine for conversion of fixed term contracts exceeding the 20% limit into open-ended contracts with a fine to be paid to the employee and (ii) the clarification of the reintroduction of basic training for apprentices. 

    Filed under:
    France, Italy, Poland, Employment & Labor, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Eversheds Sutherland (International) LLP
    Authors:
    Mauro Modica
    Location:
    France, Italy, Poland
    Firm:
    Eversheds Sutherland (International) LLP
    Upcoming changes to French insolvency law
    2014-05-14

    Introduction

    The ongoing financial crisis has not left France untouched. The number of company insolvencies rose considerably in 2013: while judicial rehabilitation proceedings remained stable, liquidation proceedings increased by 4% from 2012, and “safeguard” proceedings (a procedure inspired by “Chapter 11” proceedings in the United States) increased by 9%. Pre-insolvency proceedings such as judicially-supervised conciliation and ad hoc mediation reached an all-time high, 24% over 2012.

    Filed under:
    France, Insolvency & Restructuring, Norton Rose Fulbright, Debtor, Mediation, Liquidation, Conciliation
    Authors:
    Philippe Hameau
    Location:
    France
    Firm:
    Norton Rose Fulbright
    French distressed companies law amended
    2014-05-31

    Order no. 2014-326 dated 12 March 2014, applicable as of 1 July 2014, amends the rules on the prevention of business difficulties and on insolvency. The key highlights of the reform include:

    •  power to issue an alert by the President of the Civil Court

    New §L. 611-2-1 of the Commercial Code permits the President of the Civil Court (Tribunal de grande instance) to use, as can the President of the Commercial Court (Tribunal de commerce), the alert mechanism.

    Filed under:
    France, Insolvency & Restructuring, Bersay
    Location:
    France
    Firm:
    Bersay
    Cœur défense: the chronicle of a foretold reform of the French safeguard proceedings
    2014-07-02

    The end of a legal saga

    Filed under:
    France, Insolvency & Restructuring, McDermott Will & Emery
    Authors:
    Antony Martinez , Noëmie Fort
    Location:
    France
    Firm:
    McDermott Will & Emery
    Legal flash - Bureau de París - Juillet 2014 - Prévention des difficultés des entreprises et procédures collectives: une réforme de plus ¡
    2014-07-09

    (ORDONNANCE Nº 2014-326 DU 12 MARS 2014 ET DÉCRET NO 2014-736 DU 30 JUIN 2014)

    La nouvelle ordonnance nº 2014-326 du 12 mars 2014 modifie avec environ 120 articles essentiellement insérés dans le Code de Commerce, le régime des entreprises en difficulté. Un décret d’application publié le 30 juin 2014 a précisé les détails de ce texte.

    Nous exposons ici quelques points principaux de la réforme (liste non exhaustive) :

    Filed under:
    France, Insolvency & Restructuring, Cuatrecasas
    Location:
    France
    Firm:
    Cuatrecasas
    US corporation not a joint employer of the French workforce for merely coordinating group interests and exercising financial influence over the French subsidiary
    2014-08-07

    Given the unfortunate reputation of French courts for awarding substantial damages to employees for unfair terminations, US corporations with operations in France are anxious to limit their financial and legal exposure in case of litigation initiated by their French workforce.  How to achieve this efficiently is a far from rhetorical question as French employees frequently pull in the US parent company as a named defendant.  The recent decision of the French Supreme Court [Cass. Soc.

    Filed under:
    France, USA, Employment & Labor, Insolvency & Restructuring, Litigation, Seyfarth Shaw LLP
    Location:
    France, USA
    Firm:
    Seyfarth Shaw LLP
    Disposal of a French loss-making business: pitfalls and tips
    2013-05-09

    Under French law, the divestiture of an unprofitable business can create specific legal risks resulting from the status of the sold business. International companies should anticipate a number of issues when selling a French loss-making subsidiary, including, but not limited to, issues surrounding the sale price, the risk of post-closing liabilities under bankruptcy proceedings and the risk of post-closing liabilities relating to employee claims.

    Sale Price

    Filed under:
    France, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, McDermott Will & Emery, Consideration, Liability (financial accounting)
    Authors:
    Nicolas Lafont
    Location:
    France
    Firm:
    McDermott Will & Emery
    Legal flash: Bureau de Paris: Procedures collectives
    2013-07-04

    LE PRINCIPE DE PRIMAUTE DU DROIT COMMUNAUTAIRE NE SAURAIT FAIRE ECHEC AUX REGLES TRES RESTRICTIVES DE DROIT INTERNE DES PROCEDURES COLLECTIVES (CASS. COM., 23 AVRIL 2013, F-P+B, N°12-19.184)

    Filed under:
    France, Insolvency & Restructuring, Litigation, Cuatrecasas
    Location:
    France
    Firm:
    Cuatrecasas
    European perspective in brief - September/October 2013
    2013-09-30

    Europe has struggled mightily during the last several years to triage a long series of critical blows to the economies of the 28 countries that comprise the European Union, as well as the collective viability of eurozone economies. Here we provide a snapshot of some recent developments regarding insolvency, restructuring, and related issues in the EU. 

    Filed under:
    France, Germany, Insolvency & Restructuring, Litigation, Jones Day, Money laundering
    Authors:
    Mark G. Douglas
    Location:
    France, Germany
    Firm:
    Jones Day
    French legal and regulatory update - insolvency proceedings - September 2013
    2013-10-01

    France - Bill to adopt by way of orders various measures to simplify and secure the life of businesses

    Filed under:
    France, Insolvency & Restructuring, Hogan Lovells
    Location:
    France
    Firm:
    Hogan Lovells

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