Partial settlement of the amount owed for income tax.
Legal assistant appointed by the court during collective proceedings, responsible for defending the interests of the company in difficulty and defining a viable operation for it.
The court issues a plan (decided with the judicial representative) providing for the terms of repayment of all or part of the company's debt in safeguard or in receivership, spread out up to 10 years.
Addition and / or additional modification to an initially concluded contract.
Working capital requirement, corresponds to the financing requirement to manage the operating cycle. (Inventories + trade receivables) - (trade payables + tax payables + social security debts + other non-financial debts).
Self-financing capacity, or potential cash flow. It is a measure of repayment capacity. CAF must therefore cover the bank debt for less than one year.
Flow generated by the activity of the company.
Date on which the company can no longer meet its debts (current liabilities) with the available assets, generally declared by the manager to the Commercial Court.
In law, it is the power to act. For credit, it is the commercial court which is competent; and it will be that of the domicile of the legal person attacked in court.
Funds contributed by the partners in the company. Different from a capital increase, in that this money is liquid. Depending on the banking institutions and the profile of the company, CCAs can be assimilated to debt or equity.
Amicable procedure to settle a conflict between a company and a third party, via a conciliator, for one month renewable once.
Bank overdraft, overdraft facility
All legal procedures for settling a dispute.
This is a ratio making it possible to verify that the company can support the repayment of its annuity (capital and interest) of the loan.
The higher this ratio, the more the company has a significant borrowing capacity.
Operation which consists in buying a company in order to establish synergies and / or increase its turnover.
Growth of the company in its market.
Legal or natural person having contracted a debt.
Pronounced when the contractually fixed conditions are not respected (non-reimbursement, sale of the business, ...). The entire credit then becomes payable, with interest, and the repayment facilities lapse.
Refers to the company's debt to banking institutions as part of an LBO transaction. The senior debt is repaid thanks to the dividends received from the redeemed target.
This is an indicator making it possible to measure the resources (cash flow) generated by the activity of a company.
It makes it possible to verify that the company is profitable in its core business.
Debt issued by the company / State / Community. The capital is repayable on a fixed date. Subscribers receive interest during the term of the loan. Sometimes, the bond loan can be likened to quasi-equity.
The operating cash surplus is the balance between the cash flows actually generated by the income received and the operating expenses paid out over a given period.
Working capital, or resources available after the financing of the production tool (fixed asset).
Set of tangible assets (production tool) and intangible assets (customer value).
Correspond to share capital, reserves (previous net results) and net income achieved over the last financial year.
Exceeding of procedural deadlines, preventing legal action.
Company whose vocation is to combine holdings in various companies and ensure the unity of management. Generally, the holding company carries the “senior debt” which enabled it to buy these participations.
Auxiliary of justice carrying out the compulsory execution measures (by virtue of an enforceable title), or statements for the purposes of proof.
Judge a second time, in a different (or even opposite) way from that of the first judge.
Unilateral proceedings of a creditor against a debtor, filed before the judge of the competent court.
Interest received by the saver before social security contributions.
It is a penalty calculated per day of arrears in arrears since the due date. Its rate is stipulated in the contract.
Set of court decisions rendered which interpret and supplement laws and regulations
Operation which consists in raising a strong bank indebtedness to buy back the shares / securities of a company.
Collective proceedings for the company deemed to be non-viable (either directly or following legal reorganization). All the assets will be sold to clear the liabilities as much as possible. 90% of liquidations are at a loss for the creditor.
Turnover of a holding company corresponding to administrative costs (remuneration of directors / head office rent). These services are paid for by the purchased target. In any case, these services are intended for the repayment of the senior debt. (Considered an abuse of social good).
Amicable and confidential procedure, at the initiative of the manager, to resolve difficulties (negotiation, conflict, mediation); appointing a mediator for 3 months renewable several times.
Legal assistant appointed by the court to represent the interests of creditors in the event of reorganization. If he recommends the liquidation of the company to the court, he becomes its judicial liquidator.
Solemn injunction (in recorded delivery or in person by bailiff) requiring regularization of unpaid bills before the forfeiture of the term is pronounced. It is the first legal document to sue the debtor.
Newly created company with the aim of buying back the shares or securities of a company
Period of 6 months, renewable once or twice maximum, which begins after the opening of a safeguard or receivership procedure, to allow the administrator or the representative to define whether the company is viable or not .
Generalized social contribution (CSG), social debt repayment contribution (CRDS) social levy, additional contribution and solidarity levy.
All the measures forced to collect a debt, via a bailiff, and by virtue of an executory title issued by a court and guaranteeing the legality of the debt.
File containing compulsory information relating to traders or structures having a commercial form
Spread of credit to allow a drop in monthly payments. If the borrower had arrears, these are smoothed out in the new amortization table.
Collective proceedings for the company in suspension of payments. The legal representative defines whether the business is viable or not. If so, he decides on a recovery plan that can reorganize, or even erase, all or part of the creditors' debt. If not, he requests judicial liquidation. During the procedure, no payment can be made.
Brings together the acts of execution rendering the debtor's assets unavailable for the purpose of returning them as compensation for the liabilities to their creditor (wage attachment, attachment on account, attachment of furniture, a vehicle, a building) or prevent its sale by its owner.
Preventive collective procedure, which allows the company that is not in default of payment to protect itself from creditors in order to define a reorganization and a debt repayment plan spread over 2 to 9 years (set by the Commercial Court) .
Interest rate actually received by the saver / investor.
Pre-tax rate of return.
Rate of return after tax.
Interest rate added to administrative costs, insurance, ancillary costs.
It is a document issued by the court (bearing the executory form) at the end of the legal procedure which guarantees a debt for ten years, and allows the debt to be recovered by enforcement measures (via bailiff)
Cash of the company after repayment of its short-term bank debts (overdraft and sometimes factoring).
Financial securities acquired by the company. This is a cash surplus that can generate a short-term rate of return.