Ailing companies & Turnaround
The firm ineluctibly goes through periods of crisis; some may put its future in danger: inadequacy with the market, financial difficulties...
Lamy Lexel accompanies you in the management of these critical situations:
- Relations with third parties (clients, suppliers, banks,…)
- Alert procedures (employees, partners, auditors…)
- Representation before the French courts
Its experience in business law, social law, tax law, banking and financial law, legal proceedings, may transform these delicate moments into opportunities for turnaround.
Prevention of the default
- Prior diagnosis
In cooperation with the firm’s chartered accountants and auditors
- Amicable agreements and moratoriums
Negotiations with the firm’s creditors
Preparation and formalisation of the agrement
- Preventive negotiations (mandat ad hoc, conciliation)
Assistance before the court for the appointment of the liquidator or conciliator
Management of the relation with the authorized agent or the conciliator
Assistance in the determination of the restructuring measures (management of the social and tax consequences)
Negotiation, preparation and drafting of the agreement with the firm’s partners (creditors, social and tax organisations, financial institutions,…)
Judicial treatment of the default: 4 approaches
- Assistance to the defaulting firm
- Assistance to the manager of the defaulting firm
- Assistance to the partners of the defaulting firm
- Assistance to the candidate rescuers
Assistance to the defaulting firm
- Development of a strategy for managing difficulties: preservation, turnaround or liquidation
- Preparation of the firm for its representation before the Court
- Preparation of the file for the declaration that payments have ceased
- Representation before the Chambre des Procédures Collectives and defence of the means of turnaround
- Assistance in the relation with the Commercial Court and the Receiver or the Liquidator
- Negotiations with the partners (contracting parties, credit institutions, capital contributors,...)
- Preparation for withdrawal solutions (preservation, continuation, transfer, liquidation)
- Measurement of the social and tax consequences of the restructuring measures
- Management of the risk of extension of the procedure
Assistance to the manager of the defaulting firm
- Protection of the manager’s assets: real estate, securities
- Defence of the manager: fulfilment of the liabilities, personal bankruptcy, prohibition to manage a firm
- Criminal liability of the manager
Assistance to the partners of the defaulting firm
- Representation of the creditors interests: statement of claim & dispute, ownership claims, management of the guarantees…
- Negotiations with the defaulting firm and the procedure bodies for the continuation or non continuation of the current contracts
- Appointment and representation to the functions of controller
- Defence of the interests of the partner following the termination of the contract
- Resumption of proceedings in the event of liquidation
Assistance to the candidate rescuers
- Definition of the takeover strategy
- Analysis and determination of the extent of the takeover (assets, contracts)
- Negotiations with the partners (contracting parties, banking institutions, capital contributors,…)
- Management of the relation with the procedure bodies
- Preparation and drafting of the offer
- Assistance to the rescuer at the hearing
- Drafting and formalization of the firm’s transfer deeds
