Shortfall in assets in the context of insolvency proceedings and mandatory representation by a lawyer

Wwritten by Nicolas Laurent

Published in the law journal Bulletin Joly Sociétés

Appeals against decisions handed down in insolvency proceedings involving a shortfall in assets and personal sanctions are subject to the rules applicable to proceedings with mandatory representation by a lawyer. The Court of Cassation’s ruling discussed in the article reiterates the procedural rules governing such contentious matters and which are binding on all parties. The Court of Appeal, ruling that a director should be held liable for the shortfall in assets and be subject to personal bankruptcy, cannot rely on a report produced by a liquidator who has not appointed a lawyer for representation in court. Read more