In these times of financial crisis, businesses, governments and individuals face considerable issues, many of which have no historical precedent. Companies, both large and small, must take action today to ensure their economic viability tomorrow. This trickle-down effect from the financial crisis has lead to downsizing, restructuring and in some cases, insolvencies.
In 2008, no less than 54,820 court judgments ordering receivership or liquidation proceedings (+10.3% compared to 2007) and 694* launches of safeguard proceedings were recorded in France, i.e., a 35.3% increase on 2007.
Encouraged by the new reform of the law on businesses facing financial difficulties, safeguard proceedings have come to represent the symbol of handing difficulties in the early stages.