P'er-Mishel' LeKorr1
  • 1 University of Nice Sophia Antipolis, Avenue Trotabas, Nice, 06050, Cedex France

Property Issues of Insolvent Enterprises and Bankruptcy Proceeding

2014. No. 1. P. 169–179 [issue contents]

Le Corre Pierre-Michel - Professor, Faculty of Law and Political Science — University of Nice Sophia Antipolis. Address: Avenue Trotabas,  Nice, 06050, Cedex France. E-mail: pm.lecorre@orange.fr. 

Any bankruptcy case tends to involve the scrutinized examination of the condition of the debtor's prop­erty. The result is based on the indivisibility of property principle. Recently, a French lawmaker aiming to find debtors and creditors for a certain category of citizens and the protection from the conseqiuences of insolvency has had to question the traditional indivisibility of property principle. This leads to making complicated the legal system under discussion. The article analyzes the legal mechanism facilitating to settle the issues of insolvent enterprises. The evolution of the French law regulating the insolvency of enterprises is very characteristic. The French legislation on bankruptcy has seen serious changes in the last 30 years. Hence, the early 2000s have become the turning point in the history of the legislation regulating bankruptcy. It has allowed differentiated regulation of the debtor's property which is subject to bankruptcy proceeding for the first time. In other words, the regulation of the property of the debtor which is subject to bancruptcy proceeding is becoming a variable. However, to make French law ap­pealing to foreign investors, legislators introduced the mechanism of guarantee payments for creditors based on the division of property, which is common in common law countries. As to the property of en­terprises, the corporate law evolution is still incomplete. A very French tendency to reform generates the ambition to develop sophisticated mechnisms to meet a widening range of specific needs. This makes the law tangential to its majour aim, i.e. to compile general norms of law and will probably lead to the development of more complicated mechnisms unless a darstic simplification of our legislation happens by chance under the influence of foreign laws which will show that keepig simple is a key to achieving perfect results.

Citation: Le Corre P.-M. (2014) Imushchestvennye problemy nesostoyatel'nykh predpriyatiy i konkursnoe proizvodstvo [Property Issues of Insolvent Enterprises and Bankruptcy Proceeding]. Pravo. Zhurnal Vysshey shkoly ekonomiki, no 1, pp. 169-179. (in Russian)
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