Judicial liquidation, sale and transfer of a company

Judicial liquidation of the company

The liquidation occurs when the recovery of the company or the offers of recovery presented, do not allow to conceive a favorable outcome to the revival of your activity in a perennial way and that it becomes necessary to make a bankruptcy filing. Two economic realities are solved by this liquidation procedure : either it will be considered that you are unable to ensure the recovery of the company by yourself, or your company is already out of business or this activity is irreparably compromised. Maître SION assists you and intervenes to protect your interests for yourself, as a company director, and for your company:

• Assistance during the opening of the liquidation procedure according to the terms of article L 640-1 of the Commercial Code and following
• Assistance and physical presence at the meetings requested by the appointed liquidator who represents you
• Drafting of the necessary conclusions and pleadings before the courts in front of the creditors who are suing you before the official receiver
• Assistance and representation in your relations with the liquidator, the official receiver and the creditors
• Defense before the competent Courts, before the Courts of Appeal and the Council of State in case of appeal of the decision by the creditors, the staff representatives, the Public Prosecutor, or on your behalf if you encounter a particular problem or if you contest the pronouncement of the liquidation
• Advice and intervention in the execution of the recovery plan, preparation and drafting of all the acts necessary for the realization of the company's assets at the time of the transfer
• Analysis, detail of the strong and weak points of the transfer, alerting you to the strong and weak points of each offer and their impact on the company or on you as the manager of the company in difficulty
• Supervision of the strict respect of the formalism of the transfer offers and of the deadlines to do so
• Assistance and intervention in the supervision of the proper execution of the transfer plan
• Assistance and defense of your rights in the closing of the liquidation procedure
• Answering all your questions at each stage of the procedure

Considering together the partial or total sale of your company and the terms of takeover

When you are the manager of the company in difficulty

At each stage of the above-mentioned procedures, ad hoc mandate, conciliation, safeguard, recovery and liquidation, you can, as a manager, assert your own will and your vision of the future of your company. In concrete terms, we can help you implement different financial restructuring strategies:

• We can make you benefit from our network of contacts in order to efficiently put you in touch with potential partners or shareholders according to your corporate form, who will have to suit you and prove to us the reliability of their accounting and financial project, as much on the human level as on the solidity of their financial participation and of their investments in the company.
• Or we can at any time decide together to put your company up for sale with your agreement, and carry out in this case an effective publicity on the total transfer or the partial transfer of a branch of activity of your company. This possibility of selling your company can take place at any stage of the procedures mentioned in correlation and under the supervision of the ad hoc representative, conciliator or judicial administrator, and by informing your creditors of this new project so that they can support you in the financial restructuring and validate the possible resumption of loan payments in particular. We then take charge of putting you in touch with potential partners, shareholders or buyers, and verify and anticipate for you all the legal and fiscal aspects of the transfer plan, its accounting and financial soundness and the viability of the project for the company.

When you are the buyer wishing to present an offer to take over the company in difficulty

You wish to propose to the Commercial Court or the Courts of Justice a takeover plan for a company in difficulty within the framework of a collective procedure ? Taking over a company in difficulty is often a profitable business in the short and medium term. We are at your side to advise you in the best possible way, to explain to you the stakes and advantages as well as the possible risks of such a takeover by analyzing all the accounting balance sheets and fiscal, banking and financial elements. We then give you our opinion on the possibility and the chances of success of seeing your offer retained by the Court and act at your side:

• By analyzing for you the profitability of the proposed takeover and by possibly warning you against certain possible risks and by proposing several legal strategies to avoid them and reduce them if necessary
• By drafting your takeover offer and the terms and conditions of the takeover of the company
• By pleading your proposal before the competent Court in order to win the case, which is often given to the person presenting the most solid and best prepared project allowing the magistrates to consider that the revival of the activity is not only possible but probable
• By guiding you in the implementation and start-up of the activity once the business has been taken over and by facilitating your relationship with the seller and the personnel working in the company
• We draw up all the post-judgment transfer documents for you
• We assist you in the takeover of assets of companies in judicial liquidation

Do you know the solution of the pre-pack transfer to sell your company as quickly as possible and efficiently?

The pre-pack cession procedure, inspired by Anglo-Saxon law, remains an effective legal tool yet rather unknown to entrepreneurs. This procedure consists, when you are in a delicate situation where time is running out, to decide together to implement very quickly in the framework of a conciliation procedure or ad hoc mandate the sale of your company, the conditions that we consider necessary to allow the best exit out of the difficulties encountered, by defining a sale strategy under the supervision of the judicial representative, including the definition of an acceptable price scale, the proposals and negotiations that can be initiated with credit organizations and suppliers in this regard, in a totally confidential procedure that no one other than the organizations involved in the conciliation or the ad hoc mandate have to know about.

Then, the judicial representative will make the sale official by publishing the sale of the company sufficiently on all the search engines that he considers relevant, with a more or less long deadline to make takeover offers, which can go from 15 days to more if it proves to be judicious, thus allowing the setting up of an express reorganization procedure, at the end of which your company will be able to be taken over by the best offer, thus allowing you to be protected by acting quickly and in the best interest of your company.