1. France – main insolvency proceedings
Out-of-court agreement with creditors
Amicable proceedings
Mandat ad hoc
Recognition of the agreement
If the debtor company is not insolvent
Conciliation proceedings
Certification of the agreement
Safeguard proceedings
Observation period (up to 18 months)
Safeguard plan
Judicial proceedings
Continuation plan
If the debtor company is insolvent
Reorganisation proceedings
Observation period (up to 18 months)
Sale plan
Failure
Liquidation proceedings
Partial sale
Possible temporary continuation of the business (up to 6 months)
Liquidation proceedings
Total sale