Europe

What is a receivership?

ProDentim


Noa Moussa

This Wednesday, the employees of the company Scopelec will be divided on the takeover of their company. Last September, the latter was placed in receivership. A procedure that concerns 5,000 companies in France each year. But what does that mean exactly? Europe 1 takes stock.

Important day for the 2,300 employees of Scopelec. The Lyon commercial court rules this Wednesday on the takeover of the largest cooperative in France. Six companies are in the running to buy the company that has lost its biggest market: the installation and maintenance of Orange’s fiber optic network, which brings in 40% of its turnover. Last September, Scopelec was placed in receivership. A procedure that concerns more than 5,000 companies each year in France. But what exactly does receivership mean?

One objective: to save the company

The receivership is a procedure that offers the possibility to a difficult company to guarantee the continuation of its activity by spreading its debts and to ensure the sustainability of the employment of its employees. But this is only possible if the company is unable to honor its debts. We then speak of cessation of payment.

But beware, his case should not be hopeless either. The goal being that she can be saved. Once the commercial court has ordered receivership, an economic and social assessment is carried out. It should be noted that during the procedure, all claims are suspended, as are penalties for delay and interest.

But if the difficulties are insurmountable, the court can initiate a judicial liquidation procedure which definitively puts an end to the activity of the company.

Europe 1

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