Insolvency & Restructuring

In a environment where companies are confronted with economic and financial difficulties that have an impact on their profitability, their cashflow and ultimately their long-term survival, it is essential to react rapidly and effectively by setting up adequate tools in order to ensure their economic future.

For companies, the key word is anticipation. This means that at the first sign of problems, the manager must surround himself or herself with professionals who are specialised in helping companies in difficulty in order to set up solutions to cope with and overcome these problems. More often than not, the company’s debt must be restructured, hence the name “restructuring”.

For buyers, it is important to rapidly identify a company in difficulty that is likely to be the subject of a disposal plan or an internal acquisition and to grasp all the legal issues related to the planned operation.

For creditors, it is essential to assert their rights and defend their interests.

The solicitors of CMS Francis Lefebvre Lyon, dedicated to business law for companies in difficulty/undergoing restructuring, advise and assist their clients on all matters regarding companies in difficulty, both on a national and international level thanks to their membership of the CMS network.  

Our areas of activity

Prevention of difficulties and restructuring

• Assisting managers whose companies are facing difficulties
  - Identification and analysis of the origin of the company’s difficulties
  - Setting up an appropriate made-to-measure preventive procedure for the company (ad hoc mandate, conciliation)
  - Research of long-lasting solutions for the company
  - Assisting the manager in negotiations with public and private creditors
  - Conclusion and drafting of agreements
  - Setting up and monitoring of agreements
• Assisting the shareholders or the group owning the company in difficulty
• Assisting creditors in the framework of ad hoc mandate and conciliation procedures
  - Assisting with negotiations with the debtor
  - Conclusion and drafting of agreements

Procedures for the legal handling of difficulties (safeguarding, court-supervised reorganisation and liquidation)

• Assisting the managers in setting up and monitoring collective procedures for safeguarding, court-supervised reorganisation and liquidation
• Help with the preparation of safeguarding and continuation plans
• Assisting creditors confronted with collective procedures
  - Declaration of claims and disputes for the list of creditors
  - Assistance in the framework of negotiations with regard to: creditor committees, proposal of settlement of liabilities
• Assisting the buyers in the framework of companies in difficulty
  - Preparation and filing of assignment offers
  - Assistance with internal buyout
• Manager liability litigation
  - Assisting implicated managers
  - Advice and assistance to legal agents in implementing liability claims  

Our approach

Benefiting from long-standing experience of the law for companies in difficulty, our lawyers display their operational dynamism on a daily basis, notably through:

• A complete grasp of all legal and preventive procedures
• Advanced expertise in terms of companies in difficulty under LBO
• Total management of the checks required for the opening of amicable settlements and judicial proceedings dealing with companies’ difficulties: petitions, hearings, etc.
• Mutual cooperation with the real estate, corporate, private equity, social and fiscal departments of CMS Francis Lefebvre Avocats Lyon for the handling of cases in their entirety
• Special contacts with legal professionals specialised in businesses in difficulty: court-appointed administrators, legal representatives, commercial courts, chartered accountants and statutory auditors, specialised banks, etc.
• An effective collaboration with state organisations: Credit mediator, AMF, CODEFI, CCSF, TPG, etc.

Our clients

We advise and assist medium-sized companies as well as groups of national and international companies.

We operate in a great variety of business sectors such as the automobile sector, services, distribution, industry, property development, security, education, public works, etc.  

Our team

The team of the Businesses in Difficulty/Under Restructuring Centre benefits in specific problem areas from the skills of the other departments of CMS Francis Lefebvre Avocats Lyon (corporate, private equity, social, fiscal, real estate) and those of its international CMS network.