London Partner, Didier Bruère-Dawson, was interviewed on the French network, BFM Business avec vous, where experts answer questions posed by auditors on difficulties companies are facing during the crisis.

In the interview Didier explains how and why the French Government enacted a reform including temporary and permanent measures on May 20, 2020.

All these reforms are in accordance with the EU Directive dated 2019 which will come in force throughout EU on summer 2021 at the latest, earlier in France according to governmental representatives. Some contents of Directive and French reform are very close to the Bill introduced at Parliament by British Government on May 20 2020 or already existing in the English legal frame, like the so called Phoenix plan.

The two main streams of the reform are directly connected to the aftermath of the outbreak crisis:

  • the conciliator appointed by debtor could request under certain conditions to stall the claims of dissenting creditors,
  • debtors could under precise conditions take over their own businesses for a lump sum in an asset deal.

 

Watch the full interview (in French) here.

Didier's segment begins at 1:31:30.