Gide Loyrette Nouel advises and assists its clients in their negotiations to restructure undertakings as part of amicable settlement procedures under the supervision of the Commercial Courts and their appointed officials: ad hoc assignments or compositions with creditors.

In this respect, the Department advises restructured companies and their shareholders or creditors taking part in negotiations, particularly banks. It also frequently acts for investors specialising in turn around transactions to assist in negotiations of the terms on which they acquire an equity stake in the restructured companies, both with the company's shareholders and with its principal creditors. In these amicable restructuring transactions, the Department takes full advantage of the synergies with other departments of the Firm to put together restructuring agreements (especially Mergers & Acquisitions and Finance / Project Finance).

In the case of cross-border transactions, the Department works in association with Gide Loyrette Nouel's other offices, especially the London Office.

The Department takes an active part in the development and promotion of amicable restructuring procedures in France. Olivier Puech is a founding member of the Association pour le Retournement des Entreprises (ARE)* which brings together various categories of the professionals involved in such transactions (court appointed officials and mediators, lawyers, representatives of specialist departments in accountancy firms, representatives of the "special business" departments of the major French banks, etc.). Jean-Michel Lucheux is a member of the French Law and Commerce Association, which has a large number of insolvency practitioners among its members.

Contact
Olivier Puech

* The Association for the Turn Around of Business Undertakings