International insolvency
proceedings
Issues and definition
International insolvency concerns situations in which a foreign company in difficulty has assets in France. It raises major recovery issues, particularly when a foreign procedure must produce its effects on French territory.
The objective is to identify and mobilize these assets in order to ensure the effectiveness of creditors’ rights in a cross-border context.
Conditions and procedures
Implementing an action in France involves the recognition of foreign judgments (liquidation, bankruptcy, or related decisions). This step makes these procedures enforceable and operational regarding assets located in France.
It is accompanied by a legal analysis of the file and, if necessary, the implementation of protective or adapted enforcement measures.
Areas of expertise
Interventions notably focus on corporate insolvency procedures, asset realization, and litigation involving foreign creditors and liquidators.
They concern varied assets such as bank accounts, equity interests, real estate properties, or receivables held in France.
Client support
The firm assists its clients in recovery strategies within international insolvency contexts, from analyzing prospects to implementing enforcement measures for the final settlement of liabilities.
Each case is subject to a coordinated approach aimed at identifying assets, securing rights, and obtaining a concrete result in a cross-border framework, in coordination with the liquidator.
Frequently Asked Questions
CAN WE TAKE ACTION IN FRANCE WITHIN THE FRAMEWORK OF A FOREIGN BANKRUPTCY?
Yes, subject to the recognition of the procedure and applicable rules, notably the stay of individual proceedings.
DO WE NEED TO HAVE THE FOREIGN PROCEDURE RECOGNIZED?
In many cases, yes, notably to act effectively on assets in France and to have the rights of the liquidator recognized.
CAN ASSETS BE SEIZED DESPITE COLLECTIVE PROCEEDINGS?
This depends on the applicable legal framework and the situation of the debtor, who cannot in principle be divested of their rights except through exequatur.
CAN WE ACT QUICKLY?
Protective measures may be considered in certain situations.
WHAT ABOUT JUDGMENTS RENDERED IN EUROPE REGARDING BANKRUPTCY?
For this type of decision, an exequatur procedure is necessary, as the judgment does not circulate freely.
IS A LAWYER REQUIRED?
These procedures involve, in practice, the intervention of a lawyer before French courts, both to obtain the exequatur and for the settlement of liabilities.
They also require a strategic approach, beyond just the procedural dimension.
Do you wish to initiate an exequatur procedure in France for a bankruptcy judgment or analyze the possibilities of seizing assets?
The firm assists you in defining and implementing an adapted strategy.