Reform of Insolvency proceedings Act
Act of July 26, 2005 should be modified based on the conclusions of the report made by a specific committee of French National Assembly of Jan. 31, 2007. Purpose is to make procédure de sauvegarde (close to reorganization procedure of US Bankruptcy Code Chap.11) and again simplify winding-up procedure. Reform should be made by means of Government Ordinance. The above report had observed that : Lire la suite