French Insolvency Law: Remodelling the Reforms of 2005

Considers the reforms made to French insolvency law by Law 2005-845 of 26 July 2005 on the Preservation of Enterprises, introducing the "sauvegarde" procedure. Discusses the limited take-up of the procedure and proposals for its reform in light of the deterioration in the global economy. Describes the effect of the proposals, noting in particular comments made by the Paris Chamber of Commerce detailing four elements necessary for the success of the proposed reforms