Assisting company managers in the face of financial difficulties

Throughout the life of their business, company managers have to deal with a variety of financial difficulties, arising from a wide range of situations such as a slowdown in activity, the loss of a client, understaffing or overstaffing, etc.

The resulting cash flow tensions restrict the company’s activity and force company managers to act quickly, before exposing themselves to summonses from public or private creditors.

As specialists in companies in difficulty, Insolvency practitioners’ mission is to prevent difficulties as far upstream as possible, and to raise awareness of prevention among company managers by working with them to identify the cause of their difficulties and the most appropriate legal tool to resolve them.

If the company is not insolvent, the insolvency practitioner assists company managers in setting up ad hoc mandates: an amicable procedure allowing the implementation of the most urgent measures and rapid intervention with creditors.  

In the event of insolvency of less than 45 days, company managers will be referred to another amicable and confidential procedure: conciliation.

In the event of more serious difficulties, safeguard or receivership procedures will be considered, allowing the company’s liabilities to be frozen and certain employee claims to be taken over. Regardless of the situation or procedure adopted, insolvency practitioners provide ongoing monitoring and assistance at every stage, helping company managers to choose and implement the solutions best suited to their difficulties.