Restructuring – Corporate Recovery – Distressed M&A

Our Restructuring - Corporate Recovery - Distressed M&A department is a full-service practice offering clients assistance, advice and representation in heading off and turning around financial difficulties and, if necessary, in selling their business.

Our department assists clients every step of the way, from pre-insolvency (non-contentious proceedings: mediation, administration) to formal insolvency proceedings (court-supervised recovery proceedings and court-ordered liquidation). We take a pragmatic approach to restructuring assignments and are ideally positioned to advise on all labor, corporate and financial issues facing distressed businesses.

Acquisition of strategic businesses/assets
Acquisitions of struggling or insolvent targets providing a strategic opportunity for growth for our clients (conducting acquisition due diligence of assets in administration, drafting bids, liaising with the relevant authorities, etc.).
Turnaround assistance
Restructuring of companies in pre-insolvency or insolvency proceedings (bank, payroll and tax debt refinancing; creditor group management; debt swap mechanisms; new money arrangements; staff reorganization; etc.) and shareholder disputes.
Technical assistance – insolvency proceedings (in or out of court)
Full range of legal services to companies in recovery and/or insolvency proceedings (mediation/administration, court-supervised recovery or liquidation, etc.).
Assistance / representation of creditors in insolvency proceedings (in or out of court)
Assistance / representation of directors and/or shareholders in insolvency proceedings (in or out of court)

What they say

Leaders League 2025 – The team is recognized in Restructuring & insolvency – Advising mid-cap companies and their shareholders (Leading)
Option Droit & Affaires Restructuring 2025 – The team is recognized in “Insolvency procedures” (4 stars) and “Financial difficulties and debt renegotiation” (4 stars)
Legal 500 EMEA 2025 – The team is recognized in Insolvency
Franklin‘s insolvency practice can now draw on the expertise of three partners, following the arrival of Laura Bavoux from Weil, Gotshal & Manges LLP in June 2024, bringing significant experience in cross-border cases to the table. The team is well equipped to advise debtors, creditors, shareholders and purchasers, with a broad caseload that takes in pre-insolvency and insolvency proceedings, associated litigation and distressed M&A. The experienced Numa Rengot leads the team, while Arnaud Pédron is another key contact.
Testimonials
‘I had the pleasure of working several times with Laura Bavoux, who has always been exceptionally responsive and professional. She is very approachable and attentive to her clients, consistently offering the best legal advice in complex restructuring situations.’
‘She demonstrates great proactivity and initiative when studying cases in collective procedures.’
‘The team was particularly available, highly skilled in our specific issues, and always anticipated potential outcomes, ensuring each possible solution was thoroughly analyzed before making a decision. Billing was clear, transparent, and precise with no concerns.’
‘Laura Bavoux deserves special mention. She is always attentive to matters, thoughtful, and takes the time to reflect. She never imposes but rather convinces with strong arguments, encouraging us to think critically and make informed decisions. Her approach ensures a simple and effective relationship in particularly stressful times—maturity and serenity in summary.’
‘An excellent team led by Numa Rengot, a true “doer” who is much more than just a lawyer, and strengthened by Laura Bavoux, an excellent technician who goes beyond the technicalities and thinks broadly about case strategy’
‘Excellent knowledge of procedures, high availability, diverse profiles, and gender balance’
‘A very professional team that has significantly expanded, with solid expertise at all levels. Their main strengths lie in their responsiveness and continuous availability, ensuring quick and effective support. The lawyers are extremely experienced and competent, providing top-quality legal advice. They take the time to understand our specific needs, allowing us to receive relevant and tailored recommendations.’
‘Numa Rengot is undoubtedly one of the best restructuring lawyers in France. He stands out for his client-oriented approach, combining technical expertise with strategic support, based on strong, trusted relationships with all market players. Responsive, available, competent, and creative, he enjoys an excellent reputation. I appreciate his inventiveness and determination to find solutions in complex situations. He is a trusted partner for our strategic decisions, and it’s a pleasure to work with him.’
Gold award « Insolvency Proceedings and Restructuring – Mid Cap » – 2025
Leaders League 2024: The team is recognized in the category Distressed M&A (Excellent) of the Mergers & Acquisitions Guide
GRR 100 2024
Silver award « Insolvency Proceedings and Restructuring – Mid Cap » – 2024