French accelerated financial safeguard available for holding companies
New insolvency proceedings called “accelerated financial safeguard” (sauvegarde financière accélérée) were introduced into French law two years ago. The introduction of these new proceedings not only drew from the experience of the so-called “pre-pack” restructuring practice, implemented for the restructuring of certain French distressed companies, but also innovated by being applicable only to so-called “financial debt”.
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