TOWERY assists companies and their directors, shareholders and investors in all aspects of their financial difficulties.
When a company finds itself in difficulty, be it structural or financial, management teams are often at a loss when faced with the complexity of the legislation governing this domain and the sheer number of parties involved.

A number of TOWERY’s members have been specialised in this legal field for almost 15 years. Using their legal and financial expertise, along with their knowledge of the various stakeholders, they are able to effectively assist and advise companies, directors, shareholders and investors who find themselves in such circumstances, covering all stages of corporate law for companies in difficulty.
These members have participated in legislative work specifically concerning the resolution of companies’ financial/structural difficulties and are members of the major associations for professionals in the field (Association pour le Retournement des Entreprises [Association for Company Turnarounds – ARE], INSOL Europe).

Pre-insolvency proceedings

TOWERY recommends consulting as far upstream of company difficulties as possible. The sooner difficulties are acknowledged and consulted on, the easier it is to avoid the negative effects of receivership on a company.

TOWERY also places a strong emphasis on pre-insolvency procedures (ad hoc mandates, conciliation) whereby difficulties can be handled amicably and confidentially (assessing causes of difficulties, negotiating with banks and public creditors, etc.).

Receivership

TOWERY can implement receivership procedures and provides support for companies in this regard, be it in terms of safeguard procedures (which require a company to demonstrate that it has not defaulted on its payments, but that it is facing difficulties that it cannot overcome), judicial recovery or judicial liquidation.

TOWERY assists companies and their directors in liaising with courts, administrators and legal representatives and in putting together safeguard and recovery plans, with the aim of finding the best possible solution.

We also assist directors held liable by receivership bodies.

Takeover of companies in difficulty

TOWERY has built on its expertise in supporting potential buyers for a company in difficulty, be it in terms of a pre-insolvency procedure (pre-pack disposal, solvent acquisition) or receivership (asset plan, disposal of isolated assets, etc.).

Our lawyers’ complementary expertise enables us to provide potential buyers with judicious advice on the structuring of planned takeovers.