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.