Have you accumulated debt and experienced cash flow pressures? Are you considering filing for bankruptcy? But do you have the will to rectify the situation and continue your activity?
So do not stay alone in the face of your difficulties! Solutions exist ...
Ask our services ! PHENIX EXPERTISE offers you legal redress support.
Judicial reorganization in a nutshell
The legal redress is a collective procedure which is intended to save the company, its activity, employment and to settle the liabilities by means of a plan adopted by court decision at the end of an observation period.
To learn more about collective proceedings such as bankruptcy or receivership, follow the link !
Whether you are a sole proprietorship, EURL, SARL or even SA / SAS, PHENIX EXPERTISE guides you through all stages of bankruptcy, upstream of the declaration of cessation of payment until the end of the procedure.
Our support in receivership
A true "coach", the firm PHENIX EXPERTISE daily supports business leaders who have to face a legal redress. We will help you prepare and experience this procedure in the best possible conditions. Put all the assets on your side by calling on an expert!
So contact us ! We will take stock of your situation together and provide you with sound advice.
Be accompanied by PHENIX EXPERTISE, it is :
- get help in putting together the Cessation of Payments file (form to fill out, appendices, etc.)
- have clear and precise advice on the course of the procedure
- benefit from assistance in the management of the company (cash flow arbitration, communication strategy, purchasing management, etc.)
- avoid wasting time in the various twists and turns of the administrative services of the Commercial Courts
- benefit from a positive intervention with your third parties, creditors or bailiffs (employees, suppliers, bailiffs, social tax bodies, etc.)
Indeed, it can be difficult to deal with your creditors. External intervention often allows the necessary perspective to be taken and conflict to be avoided.
PHENIX EXPERTISE helps you anticipate rather than suffer. During such procedures, which are very difficult to live with, it is essential to have real support you can count on.
How is a receivership going with PHENIX EXPERTISE?
1. Declaration of suspension of payments
The first step is to submit a file for declaration of suspension of payments at the registry of the Commercial Court or competent Instance Court.
Indeed, it is a question of noting and making note that the company is not able to face its debts; In other words, the company's current liabilities are greater than the liquidities and assets that can be realized in the short term. It is therefore necessary to fill out a specific form and to accompany it with certain appendices (in particular, a forecast of the operating income showing the company's ability to recover). To learn more about the suspension of payments status,Click here !
PHENIX EXPERTISE perfectly knows the steps to be taken and will guide you so that this step can be carried out as quickly as possible (allow between 8 and 10 days). This is why we are able to offer you a assistance in receivership adapted to your situation.
At the end of the submission of the file, you will receive a summons to a hearing at the Commercial Court.
In addition to these administrative procedures, PHENIX EXPERTISE will help you prepare the business for the opening of receivership. This step is essential because it is necessary to anticipate the effects of this procedure.. It is often for lack of preparation and anticipation that the legal redress failed. It may be ineffective or even refused by the court (judicial liquidation is then pronounced).
2. Opening of the reorganization proceedings
During the hearing in the Council Chamber, the manager will have to explain the company's situation and highlight the prospects for recovery. PHENIX EXPERTISE will be at your side to help you defend your arguments and support your request to open legal redress.
At the end of the hearing, the magistrates rule and their decision is pronounced at the public hearing. Attention, it is possible that the court pronounces a judgment of judicial liquidation if the reorganization proves impossible in the eyes of the judges!
It is therefore essential to be accompanied by a expert, who like the ruler of PHENIX EXPERTISE, knows these procedures perfectly. The stakes are high, don't stay alone!
During the hearing in the Board of Directors' chambers, the manager must explain the company's situation and highlight the prospects for recovery. PHENIX EXPERTISE will be at your side to help you defend your arguments and support your request for judicial reorganization. At the end of the hearing, the magistrates rule and their decision is pronounced at the public hearing. Attention, it is possible that the court pronounces a judgment of compulsory liquidation if the reorganization is manifestly impossible! It is therefore essential to be accompanied by an expert, who like the manager of PHENIX EXPERTISE, knows these procedures perfectly. The stakes are high, don't stay alone!
3. Observation period
If the legal redress is granted, the judgment opens an observation period and designates the organs of the procedure. It also invites the works council (or staff representatives or employees) to appoint an employee representative.
The procedure of legal redress is public. It is registered by the registry and for civil societies published in BODACC and on the company's K-bis.
During the observation period, the receiver identifies the financial capacities of the company and studies with the manager the possible axes of recovery.
Two months at the latest after the opening judgment, the administrator presents a first report on the financial capacities and the prospects for continuing the activity of the debtor or the legal person.
The Tribunal then decides:
- or the extension of the observation period if the company has sufficient financing capacity.
- or the liquidation of the company.
The observation period is limited to 6 months, renewable once at the request of the debtor, the administrator and the public prosecutor.
When the Court has authorized the continuation of the mission, the manager and the administrator prepare the economic, social and environmental assessment of the company. They then propose a recovery plan.
If the company is not able to recover, it is then possible that a total or partial disposal plan is considered.
At any time, the reorganization proceedings can be converted into judicial liquidation.
PHENIX EXPERTISE will be at your side to help you succeed in your recovery. Do not hesitate to contact us by following this link. We will get back to you as soon as possible.
4. Exit from receivership: adoption of the plan
To come out of the procedure stronger legal redress, PHENIX EXPERTISE helps you build your recovery plan. This is part of our service offeringassistance in receivership.
Then, we help you convince the receiver of its merits. The Council chamber in the presence of the public prosecutor, the receiver, the employee representative and the agent representing the creditors examine the recovery plan.
For information, the advice given by creditors is advisory.
The liability clearance plan cannot exceed a period of 10 years, the deadlines on the other hand can be progressive. Finally, the recovery plan can be accompanied by the disposal of one or more assets.
It should be noted that failure to comply with the repayment plan results in the immediate liquidation of the company by the Court.
PHENIX EXPERTISE is also at your disposal to help you implement the recovery plan and thus ensures a complete and global follow-up of its mission.
Contact PHENIX EXPERTISE for assistance in receivership
Manager - Founder
These steps are difficult to take ... Do not stay alone!
Contact me free of charge and without obligation, we will discuss your situation.
I am able to support you in this difficult period!