Adaptation of French law to the Regulation on insolvency proceedings

Article by Catherine Ottaway partner at Hoche Avocats – Head of the firm’s commercial and litigation department”.
Adaptation of French law to the Regulation on insolvency proceedings
On 11 April 2018, the Minister for Justice, Minister for Justice, presented a bill ratifying Order No 2017-1519 of 2 November 2017 adapting French law to Regulation (EU) No 2015/848 of the European Parliament and of the Council of 20 May 2015 on insolvency proceedings.
This order was issued on the basis of the authorization provided for in article 110 of Act No. 2016-1547 of 18 November 2016 on the modernization of justice in the twenty-first century.
The Order adapts French law in order to facilitate the implementation of the mechanisms created by the Regulation and to enable courts and practitioners to act quickly in often complex insolvency cases, where economic and social issues require exemplary responsiveness.
The Ordinance thus creates within Book VI of the Commercial Code a Title IX devoted to the procedures covered by the European Regulation. It accompanies the implementation of the commitment mechanism which makes it possible to simplify and speed up the treatment of the insolvency of a company operating in several Member States. It also specifies procedural rules to facilitate the treatment of corporate group insolvency and the emergence of a global solution common to the group. These provisions strengthen the incorporation of European law into national law and to promote the recovery of firms in difficulty.

Article by Catherine Ottaway partner at Hoche Avocats – Head of the firm’s commercial and litigation department”.