Good news for the liability of a company providing assistance to another company which is then the subject of collective proceedings

Article L650-1 of the Commercial Code limits the liability of credit providers in the context of collective proceedings.

It provides that: When safeguard, receivership or judicial liquidation proceedings are opened, creditors cannot be held liable for damages suffered as a result of the assistance granted, except in cases of fraud, serious interference in the management of the debtor or if the guarantees taken in return for these loans are disproportionate to (…)