Since 1 October 2021, the landscape of collective proceedings has been turned upside down by the introduction of «classes of affected parties», replacing the old creditors« committees. In this study published by the CCEF, Maître Patricia Guyomarc’h deciphers this reform stemming from the European »Insolvency" directive.
The stakes are high: from now on, creditors, as well as partners and shareholders, can be grouped into classes based on criteria of shared economic interest. This new organisation radically alters the voting conditions for safeguard or recovery plans. The article notably highlights the introduction of the «cross-class cram-down» mechanism.Cross-class cram-down), which allows the court to approve a plan even if a class of creditors objects.
Master Guyomarc’h warns about the technical complexity and litigation risks associated with company valuation. This analysis demonstrates the firm's sharp expertise in supporting companies with sophisticated financial restructurings, where legal strategy becomes the decisive lever for business continuity.
