Best Bankruptcy & Debt Lawyers in Paris

Share your needs with us, get contacted by law firms.

Free. Takes 2 min.

LX Innovations
Paris, France

English
LX Innovations stands at the forefront of legal expertise in France, encompassing a broad spectrum of practice areas to deliver comprehensive legal solutions. Known for its specialization in bankruptcy, civil law, and divorce, the firm offers precise, strategic counsel tailored to meet the unique...
Paris, France

Founded in 1953
English
Degroux Brugère stands out in France as a distinguished law firm renowned for its comprehensive expertise in legal and notarial services. With a robust team of seasoned attorneys and certified notary publics, the firm excels in providing top-tier counsel in complex legal matters. Their profound...
ARCHERS
Paris, France

Founded in 2009
English
ARCHERS is a prominent independent law firm based in Paris, France, offering comprehensive legal services across various practice areas, including banking and finance, mergers and acquisitions, tax, real estate, litigation and arbitration, private equity, restructuring and insolvency, and wealth...
Paris, France

English
Marc Jobert is a distinguished law firm based in Paris, France, renowned for its comprehensive expertise in various legal domains. The firm specializes in foreign investments, business immigration, incorporations, general business law, contracts, litigation and arbitration, international law,...

English
Cabinet Ginestié Magellan Paley-Vincent stands as a beacon of legal excellence in France, marked by its profound expertise across numerous legal disciplines. Specializing in administrative, bankruptcy, civil law, labor relations, and medical law, the firm brings a comprehensive approach to complex...

English
Willkie Farr & Gallagher LLP, an esteemed international law firm, extends its distinguished legal services to France, providing clients with exceptional expertise across a broad spectrum of practice areas. Renowned for their proficient handling of complex legal matters, the firm's French office is...

Founded in 2013
English
Peltier Juvigny Marpeau & Associés stands as a prominent legal institution in France, known for its exceptional expertise in the realm of business law. The firm is distinguished by its deep understanding of complex legal frameworks and its ability to navigate multifaceted cases with precision and...
BTD Associés - Avocats
Paris, France

Founded in 2014
English
BTD Associés is a Paris-based law firm dedicated to providing comprehensive legal services tailored to the unique needs of each client. The firm offers expertise in corporate law, mergers and acquisitions, commercial law, real estate, labor and employment law, and restructuring of distressed...
VOLT Associés
Paris, France

Founded in 2016
English
VOLT Associés is a Paris-based law firm specializing in business law, offering comprehensive services in Private Equity/M&A, Finance, Tax, and Restructuring/Litigation. The firm caters to a diverse clientele, including investment funds, listed companies, SMEs, credit institutions, entrepreneurs,...
Paris, France

Founded in 1986
English
Quinn Emanuel is a distinguished law firm in France, renowned for its unparalleled expertise in litigation and arbitration. With a robust team of seasoned attorneys, the firm is committed to tackling complex legal challenges and delivering favorable outcomes for clients. Their specialization...
AS SEEN ON

Browse bankruptcy & debt law firms by service in Paris, France

Paris, France Attorneys in related practice areas.

About Bankruptcy & Debt Law in Paris, France

Bankruptcy and debt law in Paris, France, is primarily governed by the French Commercial Code, which includes provisions for both personal insolvency and corporate bankruptcy. While the legal framework is designed to provide protections for creditors, it also offers mechanisms for debtors to resolve their financial difficulties. The French insolvency system includes several proceedings, such as sauvegarde (safeguard), redressement judiciaire (judicial reorganization), and liquidation judiciaire (judicial liquidation).

Why You May Need a Lawyer

Seeking legal advice from a lawyer specialized in bankruptcy and debt is crucial in circumstances where an individual or business is unable to meet their financial obligations. Common situations include facing foreclosure on a property, dealing with significant credit card debt, or when a business is unable to pay its suppliers or creditors. Moreover, a lawyer can guide you through the complex legal procedures, represent your interests in negotiations with creditors, help restructure your debt, and provide advice on legal obligations and rights.

Local Laws Overview

In Paris, France, the local laws concerning bankruptcy and debt focus on resolving insolvency issues and ensuring that the rights and interests of all parties are maintained. Notable aspects include:

  • Procedure de sauvegarde: Designed for businesses that face difficulty but are not yet insolvent, to provide them time to restructure.
  • Redressement judiciaire: This procedure aids insolvent businesses that still have the potential to recover by reorganizing their debts under court supervision.
  • Liquidation judiciaire: Applicable when a business is irrecoverably insolvent, resulting in the sale of assets to pay off debts.
  • Procédure de surendettement: This is for individuals who are excessively burdened by debt, offering them a way to negotiate with creditors and reorganize their finances under court administration.

Frequently Asked Questions

What is the difference between sauvegarde and redressement judiciaire?

'Sauvegarde' is a preventive measure for businesses not yet insolvent but facing hardship, while 'redressement judiciaire' is for already insolvent businesses aiming for recovery.

Can an individual file for bankruptcy in France?

While personal bankruptcy per se is not recognized in France, individuals can go through a 'procédure de surendettement' when they are unable to pay their debts.

Are there any debt relief options for consumers in Paris?

Yes, individuals can seek debt relief through the 'procédure de surendettement,' which may result in a repayment plan or even debt discharge in some cases.

Can businesses in financial difficulty negotiate with creditors without going to court?

Yes, businesses can engage in out-of-court negotiations to restructure their debts. However, court-sanctioned procedures offer legal protection from creditors during the process.

How long does the bankruptcy process take in Paris, France?

The duration varies considerably depending on the complexity of the case and the type of procedure initiated, ranging from several months to several years.

What happens to employees during a company's bankruptcy proceedings?

Employees may be protected under French labor laws, and their claims for wages are given priority during asset distribution in bankruptcy proceedings.

Can a company continue to operate during redressement judiciaire?

Yes, a company can operate during redressement judiciaire while the court oversees its management and restructuring process.

Is it possible to discharge all debts through bankruptcy in Paris?

Not all debts may be discharged; some, such as fines, certain taxes, and family support obligations, may remain even after bankruptcy proceedings.

Do I lose all my assets if I file for bankruptcy in Paris?

Not necessarily. France has exemptions that protect certain personal property and assets during bankruptcy, and each case varies.

Can creditors force a company into bankruptcy?

Creditors can petition the court to open bankruptcy proceedings if they can prove the company is unable to pay its debts.

Additional Resources

The Banque de France offers services and guidance for individuals dealing with over-indebtedness. Additionally, the Infogreffe website provides valuable information on the various insolvency procedures and offers access to legal documentation. For personalized advice, the Paris Bar Association can help in finding lawyers specialized in bankruptcy and debt law.

Next Steps

If you need legal assistance in bankruptcy and debt, the first step is to consult with a qualified attorney who specializes in this area of law. You can find an attorney through the Paris Bar Association or seek referrals from acquaintances. It is also advisable to gather all relevant financial documentation before meeting with your lawyer to enable a comprehensive evaluation of your situation.

Lawzana helps you find the best lawyers and law firms in Paris through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Bankruptcy & Debt, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Paris, France—quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.