Lexicon

Corporate Law & Business Law

Judicial reorganization

Judicial reorganization is a procedure aimed at preserving all or part of a company facing difficulties. Depending on the chosen path, it may aim for an agreement with creditors, a plan, or a transfer under judicial authority.

The stay granted in the procedure has its own duration and limits. It does not eliminate debts and does not indiscriminately protect against all measures. The file must present a sufficiently precise situation to allow the court and creditors to decide.

Official Source

• Loi du 7 août 2023 relative à la préservation des entreprises