In the crisis we are going through, many viable companies are at risk of having their continuity temporarily shaken, despite the measures taken by the public authorities.
These companies will ultimately find an ally in the judicial reorganization process (PRJ) by collective agreement. This procedure results in the suspension of forced sales and bankruptcy proceedings for up to 18 months in exceptional cases.
Although there is currently a press report of a likely freeze on Coronavirus bankruptcies and that ministerial firms are working on a suspension of certain seizures, it is essential to bear in mind that the measures taken by the government will remain limited in time and that it is therefore necessary to consider now to adjust the situation of your company after the expiry of these measures.
If your business was viable before the crisis, then the judicial reorganization could give it the boost it needs to recover in a more serene climate.
Ps. For an overview of the government’s actions, we refer you to our other publications