2 April 2014 – Conference on the reform of bankruptcy proceedings:

2 April 2014 – Conference on the reform of bankruptcy proceedings:

As part of regulatory changes regarding insolvent companies, Droit & Croissance invited government officials, economic actors and academic researchers to discuss : “Collective proceedings, issues and perspective of the announced reform”. The purpose of the conference was, on the one hand, to clarify the content of the reform with respect to what was at stake and on the other hand, to consider the expected impact on the market for the financing of insolvent companies and their turnaround.

In times of economic crisis, the restructuring of companies increases. Bankruptcy law has an effect on the availability of credit for insolvent companies, their prospects for recovery and, in fine, on employment and economic growth. A modernized law allows to mitigate the consequences of the crisis. This is the challenge of the current reform.

– Round table 1 : Is the reform on insolvent companies up to the expectations of the practitioners ?

“The challenges of bankruptcy law at the limit of innovation”
Nicolas Colin, co-founder, TheFamily, member of Droit & Croissance


– Hélène Bourbouloux, Court appointed administrator, FHB
– Xavier Hubert, Legal advisor, Ministry of productive recovery
– Arnaud Joubert, Managing Director, Rothschild Bank
– Arnaud Pérès, Partner, Davis Polk Law firm

Since the entry into force of the law on companies safeguard of 26 July 2005, French bankruptcy law is presented as particularly favorable to the debtor. Does the adoption of the ordinance dated 12 March 2014 on the reform of the prevention of companies’ difficulties and collective procedures, presented as reinforcing creditors’ rights meet the practitioners’ expectations ? Will this text mitigate the gaps of Bankruptcy law of ? What do the practitioners think?

Roundtable 2 : “Perspective to be expected from the reform of insolvent companies: new actors, new behaviors”

Keynote speech and moderator:

« The market of distressed companies in the US and Europe. How to bridge the gap ? »
Sophie Vermeille, President of Droit & Croissance

Panelists :

Laurent Assaya, Of Counsel, Legal firm Jones Day
Patrick d’Hérouville, Managing Director, Head of preservation value group, BNP Paribas
Mathieu Guillemin, Managing Director, Oaktree Capital Management
Douglas Rosefsky, Managing Director, Alvarez & Marsal

The new provisions introduced by the ordinance of 12 March 2014 will necessarily modify the balance of powers and influence the respective behaviors of different stakeholders.  Yet, absent real structural reform of bankruptcy law, will a real financing market emerge ? Is such evolution possible without taking enterprise value into account in  French bankruptcy law ?

Download :
>>> Booklet of the conference
>>> Transcript of the conference