Insolvency and Restructuring
Support for businesses, entrepreneurs and individuals facing financial difficulty or insolvency, for creditors and for insolvency administrators, from the initial assessment to the conclusion of the proceedings.
Matters the office handles
Corporate insolvency
Filing for insolvency, creditor petitions, insolvency plans and directors' liability.
Personal insolvency
Filing for insolvency, payment plans and discharge of remaining liabilities.
PER — Special Revitalisation Proceedings
Negotiation with creditors and approval of a recovery plan that allows the company to keep trading.
PEAP — Special Payment Agreement Proceedings
Payment agreements with creditors for debtors that are not businesses, as an alternative to insolvency.
Insolvency estate — legal advice
Support for insolvency administrators in seizing and selling assets, setting aside transactions for the benefit of the estate and in court actions.
Creditors
Lodging and verification of claims, challenges, creditors' meetings and voting on plans.
Businesses and entrepreneurs in difficulty, over-indebted individuals, creditors and insolvency administrators.
Handled by the lawyers of ME&JBA
Each matter is personally handled by a lawyer of the office assigned to it, from the initial analysis of the facts and documents to its conclusion. Before work begins, the client is informed of the scope of the work, the expected steps and the criteria for setting fees.
Common questions on Insolvency and Restructuring
When must a company file for insolvency?
The debtor must apply for a declaration of insolvency within 30 days of becoming aware, or of when it should have become aware, of its insolvency (Article 18 of the Insolvency and Corporate Recovery Code — CIRE). Individuals who do not own a business are exempt from this duty. Missing the deadline may lead to the insolvency being classified as culpable.
What is the difference between the PER and the PEAP?
Both allow the debtor to negotiate with creditors before insolvency. The PER (Articles 17-A et seq. of the CIRE) is for businesses in financial difficulty or facing imminent insolvency and aims at approving a recovery plan. The PEAP (Articles 222-A et seq. of the CIRE) is for debtors that are not businesses, in particular individuals, and aims at a payment agreement. During the negotiations, debt collection actions against the debtor are, as a rule, suspended.
What is the discharge of remaining liabilities?
It allows an individual declared insolvent to be released from the debts not paid in the proceedings, after an assignment period, currently three years, during which disposable income is handed to a trustee for payment to creditors (Articles 235 et seq. of the CIRE). It does not cover, among others, maintenance debts, fines and tax and social security debts.
General information, based on the legislation in force on 17.10.2026. Its application to a specific situation depends on the facts and requires its own legal analysis.
Publications in this area
Publications on Insolvency and Restructuring
Discharge of remaining liabilities: the debtor's conduct before, during and after the assignment period
The discharge of remaining liabilities allows an individual declared insolvent to be released from the debts left unpaid, with some exceptions. For three years, the debtor hands over to a trustee the income above what is needed for a dignified life and must meet duties laid down by law. The final discharge depends on that conduct.
PER, PEAP or insolvency: which route to take when debts pile up?
When a business or a household can no longer pay its debts, the law provides tools for negotiating with creditors before insolvency. The choice depends on who the debtor is and on when action is taken.