Alma: the test case introducing the ‘accelerated safeguard’
Overview
France recently introduced a new, fast-track insolvency procedure called “accelerated safeguard”. The Alma restructuring was a major test case for this new procedure. It allowed the cram-down of dissenting creditors and minority shareholders (including forcing through the relevant shareholder resolutions with a simple 50% majority) – and all within a short timeline.
Read the entire post on the European Restructuring Watch.
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