Introduction
The New Law applies to all traders (commerants), craftsmen, commercial companies (including socits en commandite spciale) and civil companies, with certain specific exceptions relating to investment firms, insurance and reinsurance companies, undertaking for collective investments, specialized investment funds, venture capital investment companies, pension funds and RAIF.
The main objective of the New Law is to identify and preserve companies in difficulty. Existing reorganisation procedures such as controlled management (gestion contrle) and composition with creditors (concordat prventif de faillite), which were rarely used in practice, have at the same time been repealed.
A framework for the detection of companies in dif…
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