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. Under French rules, only interested persons without any direct or indirect link with the company may file an offer (C.com., art. L.642-3). In other words, any affiliates or relatives of a debtor company or its managers are prohibited from purchasing that company. Against that background, the Cour de cassation has recently ruled that the former manager cannot be qualified as a third party (Cass.com., 8th March 2017).
Emphasis on rights of secured creditors
In several cases delivered by the Cour de cassation, secured creditors were granted legal certainty.
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