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.

During both interviews, Didier is asked: “After the lockdown period, how will collective procedures work and what forms will corporate restructuring take?”

He explained that collective procedures followed the rules of the lockdown with a pause of certain legal activities related to businesses during the economic activity stoppage period.

Now that economic activity has restarted, collective procedures will resume and multiply because many companies are in financial difficulties (debt, need of cash, etc.) and have to adapt their business models.

In this context, prevention procedures, enabled by the extension of deadlines procedures authorized by the government, will make possible a rather peaceful dialogue between firms’ various partners and creditors, in order to reorganize and make the appropriate decisions concerning payment deadlines and restructuring perspectives.

Watch the interview (In French) here.