When justice takes charge of the company

• Philippe ESTÈBE
  Legal receiver
  

Summary

Over the last two thousand years, there has been a reversal of relations between creditors and debtors in bankruptcy law. Starting with the killing of the defaulting debtor by his creditors in Ancient times, to the many possibilities for his redemption offered by current law, including all sorts of punishment ranging from loss of reputation to rejection. Procedures have become increasingly complex and have helped identify priorities, and are adapted to changing times. Judges, representatives of the law, and entrepreneurs have to strike a subtle balance between conflicting situations, such as the desire to keep jobs and the wish to keep labour tools; defending creditors and credit; and the possibility for the debtor to bounce back, and yet call for a fair and necessary punishment in respect of public order. In this situation, skill is increasingly taking the place of power relations which existed in ancient times.

Summary translated from French by Rachel MARLIN.

• The entire article was written by Pascal LEFEBVRE.

To obtain this article, you can :

• download it in French (PDF help) using your password or contact ecopar@paris.ensmp.fr (Reference VA080208).