Managing a co-ownership in difficulty

Insolvency practitioners are able to take on various types of assignments in relation to co-ownerships in difficulty, such as provisional administration or the appointment of a legal trustee, whether or not the co-ownership benefits from public schemes or is recognised as a co-ownership in difficulty.

Depending on the nature of the difficulties encountered, an insolvency practitioner may be appointed as a provisional administrator or ad hoc agent (mandataire ad hoc) to temporarily manage a co-ownership association that has no trustee or is in difficulty.

An insolvency practitioner can also be appointed to work alongside the trustee as an ad hoc agent if the co-ownership is considered to be “fragile”, and to analyse the financial situation of the trustee and the state of the building.

Based on the findings, insolvency practitioners can make recommendations to restore financial equilibrium, which will be voted on at the general meeting.