Defaulting shareholder and organisation of a “prepack cession” of the abandoned subsidiary’s business

The matter

Assistance and representation of the director of a subsidiary abandoned by its sole foreign shareholder, via the implementation of a conciliation procedure (Article L. 611-4 of the French Commercial Code) and the preparation of a prepack cession solution, enabling the rescue of the business and associated jobs through a transfer of the debtor subsidiary’s assets to one of its principal Indian creditors, approved by the competent Commercial Court.