French Bankruptcy Law and Enforcement Procedures Commercial Code – Article L. 632-2 §2

Abstract : In 2005, French bankruptcy was amended by the law regarding the Safeguarding of Businesses (the “Reform of 2005”).1 This Reform has amended Book VI of the French Commercial Code, entitled “Businesses in Difficulty.” The new law also affects enforcement procedures in a most interesting way. But before describing the impact on the enforcement process, garnishment in particular, let me give you the main objective of the Reform of 2005.