[RESTRUCTURING, BANKRUPTCY PROCEEDINGS] Harmonization and Creditor Representation in France: A New Opportunity for Creditors?

Anja Droege Gagnier and Amélie Dorst discuss the proposed introduction of creditors’ committees in France and their positive impact on creditors’ rights.

The French legislature could now address the insufficient representation of creditors’ interests in France by introducing general meetings of creditors and creditors’ committees into French insolvency law. Creditors’ committees would not only enable creditors to exchange views and identify common interests—including the rescue of the company—but they would also lend legitimacy to the creditors’ voice, something that is still lacking in France today.