In this doctrine article published in Joly Enterprises in difficulty bulletin, Patricia Guyomarc'h, Solicitor, founder of CGLAW, provide a critical analysis of «prepack cession». This mechanism, stemming from the 2014 reform, allows for the negotiation of a company sale within the confidential framework of conciliation to have it approved once collective proceedings are opened.
If this device aims to speed up the rescue and preserve the value of the company, Maître Guyomarc’h and the team from CGLAW warn of the risks of excessive «privatisation» of negotiations. The expert points out that this «procedural shortcut» can obscure judicial sales, to the detriment of free competition and the interests of creditors, potentially ruling out competing, higher-paying offers.
In this light, Patricia Guyomarc’h calls for the rigorous use of this lever, recalling that the classic call for tenders must remain the guarantor of a fair procedure. This expertise illustrates the firm's ability CGLAW to secure the most innovative turnaround strategies while scrupulously ensuring compliance with the fundamental principles of business law.
