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Baker McKenzie

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The state of health emergency declared by the French law of 23 March 2020 to deal with the COVID-19 epidemic clearly affects the country’s companies. In order to support them in these exceptional circumstances, the government has temporarily adapted the procedures applicable to companies facing financial stress. 1. Crystallization of the state of cessation of payments on 12 March 2020 Order No. 2020-341 of 27 March 2020, adapting the rules relating to the difficulties of…

Introduction The concept of winding up does not exclusively apply to insolvent companies. Solvent companies can also be wound up, on the initiation of the company’s directors and shareholders (for example, as part of a corporate reconstruction or to close down non-operating or redundant entities). An overview of the two key procedures to effect the dissolution of a solvent Australian company, being Members’ Voluntary Liquidation and Deregistration, is set out below. What is a Members’…