A law firm
Specialized in the field of distressed companies
Presentation of the firm
A preeminent actor in the restructuring practice and insolvency proceedings
Founded in 1987, the firm is composed of a dozen of lawyers, partners and associates.
Legal advice and dispute resolution are the main activities of the firm.
Referenced for more than 20 years among the major actors of the restructuring practice and insolvency proceedings, the firm has developed an expertise in litigation, mergers and acquisitions and labor law issues.
The firm advises mainly French or foreign companies (private or listed), industrial groups and investment funds.
The firm is regularly involved in large-scale matters. Our objective is to set up safe and innovative solutions allowing our clients to restructure or develop their activities by taking into account their strategic choices and their financial constraints.
Based on a good knowledge of the most sophisticated legal techniques, the firm has been able to successfully achieve major transactions.
The Team
A creative and innovative team
Jean-Paul Poulain
Practices: Restructuring, Insolvency, Private Equity, Litigation,
Commercial Law and Contracts
Partner and firm founder
Member of the Paris Bar since 1982
Post-graduate diploma in business law (Paris I)
Master degree in private law
Languages: French and English
Pascale Silvain-Poulain
Practices: Labor Law, Commercial and Business Law
Partner
Member of the Paris Bar since 1981
Master degree in private law (Paris I) and in German (Paris III)
Languages: French, English and German
Philippe Chemouny
Practices: Insolvency, Litigation, Contracts and Torts, Civil Proceedings
Partner
Member of the Paris Bar since 1989
Post-graduate diploma in private law (Paris I)
Languages: French and English
Johann Sultan
Practices: Labor Law, Restructuring, Social security law, Individual and collective employment relationships, Health and safety at work, International mobility, status of executives and corporate officers, individual and collective litigation, employee savings schemes.
Partner
Member of the Paris Bar since 2005
DESS post graduate diploma in Labor Law, University of Paris II
Master degree in Private law (Paris II)
Languages: French and English
Jean-Charles Barbaud
Practices: Restructuring, Private Equity, Mergers and Acquisitions
Partner
Member of the Paris Bar since 2001
Master degree in management and business law (ESCP Paris)
Post-graduate diploma in contracts (Paris XI)
Master degree in private law (Paris II)
Languages: French and English
Stéphanie Paget
Practices: Restructuring, Insolvency and Litigation
Associate
Member of the Paris Bar since 2008
Doctorate in private law
Post-graduate diploma in business contracts (Montpellier)
Master degree in corporate law – Magistère II (Montpellier)
Languages: French and English
Antoine Poulain
Practices: Restructuring, Insolvency and Litigation
Associate
Member of the Paris Bar since 2011
Master degree in litigation (University of Paris XIII) and business law (University of Aix-Marseille III)
Languages: French and English
Sylvain Constant
Practices: Tax, Restructuring, Mergers and Acquisitions
Associate
Member of the Paris Bar since 2006
Master degree in international business law and management (ESSEC)
DJCE - DESS in tax and business law (University of LYON III)
Master degree in business law (University of LYON III),
Languages: French and English
Pauline Stern
Practices: Restructuring, Insolvency, Finance, Private Equity and Mergers & Acquisitions
Of Counsel
Member of the Paris Bar since 2006
DEA (pre-doctoral program) in Common law (Paris II - Oxford University)
DESS (postgraduate degree) in Capital Market (Paris XI - ESCP-EAP)
Master degree in business law (Paris II)
Languages: French, English, German
Pacome Baguet
Practices: Restructuring, Insolvency, Mergers and Acquisitions
Associate
Member of the Paris Bar since 2010
Master degree in international management and business law (HEC Paris)
Post-graduate diploma in business law (Paris XII)
Master degree in business law (Paris II)
Languages: French and English
Julie Vilaihongs
Accountant and Administrative Manager
Jessica Paulos
Paralegal
Claire Colin
Accountant and Administrative Manager
Marie-Amélie Baillet
Receptionist
Renata Hernas
paralegal
Yasemin Tezeren
Bilingual legal assistant.
The Team
Our approach
The complexity of the files and the constraints related to each business environment require from the lawyers of the firm:
• a strong legal, financial and accounting background,
• a high level of creativity,
• a sharp mind.
Lawyers involved in the companies’ strategy
The analysis of the company's situation, of the characteristics of its market, the understanding of its strengths and weaknesses and the consideration of appropriate tools (finance accounting, marketing supply policy, HR) are for the lawyers of the firm the essential prerequisite for the handling of each file.
The lawyers of the firm attempt to define and to take into account all the distinctive features of the company and its market.
Our team takes into account the strategy and the competitive and professional environment of its clients to suggest appropriate and creative solutions.
Recruitment
Futures associates and trainees
The qualities expected from future associates and trainees are:
• a very high level of rigour and performance,
• an economic and financial approach of business issues,
• a multidisciplinary.
Poulain & Associés is characterized by its financial and economic approach of the files handled by the firm.
All our lawyers have a general legal background, essential for the control of legal issues, completed by studies in economics and finance.
Lawyers who intend to join the firm are strongly recommended to hold a double degree: a university master degree completed by a business school or political sciences diploma or a foreign legal training (LLM).
English writing skills are essential for all candidates. Knowledge of a second foreign language would be appreciated.
To apply, please send your résumé to ccolin@cabinet-poulain.com.
Distinctions
A firm among the leaders of the market
Each year, Poulain & Associés appears at the top of the rankings of the law firms specialized in the restructuring practice.
Download the rankings :
- Ranking of law firms in the field of social plans and collective litigation
- Ranking of law firms in the field of prevention of financial difficulties and debt restructuring
- Ranking of law firms in the field of bankruptcy proceedings
LEGAL 500 EMEA
Click here
LEGAL 500 PARIS
Click here
Donwload the ranking :
Click here
Each year, Poulain & Associés appears at the top of the rankings of the law firms specialized in the restructuring practice.
The values of the firm
Participating in the development of the firm by respecting its values
Partners and associates of the firm share the same values:
• a very high requirement of quality in terms of rigour and performance,
• an economical and financial approach of our clients' difficulties,
• a customized service,
• a creative mind,
• a multidisciplinarity,
• an ability to react quickly, a high level of availability and adaptability to all sorts of situations.
All the lawyers of the firm participate in the firm's development by respecting these values. Conviviality, teamwork and the sharing of information guide each member of the firm in his daily work.
Press Review
The cabinet's press review
Contact details
Cabinet Poulain & Associés
46, avenue d'Iéna
75116 Paris
Tel : +33 (0) 1 53 23 43 00
Fax : +33 (0) 1 53 23 43 09
cabinet.poulain@cabinet-poulain.com
> Access to the law firm and parking
E-mail addresses of the firm's members:
Partners
• POULAIN Jean-Paul : jppoulain@cabinet-poulain.com
• CHEMOUNY Philippe : pchemouny@cabinet-poulain.com
• SILVAIN-POULAIN Pascale : ppoulain@cabinet-poulain.com
• BARBAUD Jean-Charles : jcbarbaud@cabinet-poulain.com
• SULTAN Johann : jsultan@cabinet-poulain.com
Of Counsel
STERN Pauline : pstern@cabinet-poulain.com
Associates
• BAGUET Pacôme : pbaguet@cabinet-poulain.com
• CONSTANT Sylvain : sconstant@cabinet-poulain.com
• PAGET Stephanie : spaget@cabinet-poulain.com
• POULAIN Antoine : apoulain@cabinet-poulain.com
Administrative team
• BAILLET Marie-Amélie : accueil@cabinet-poulain.com
• HERNAS Renata : accueil@cabinet-poulain.com
• PAULOS Jessica : jpaulos@cabinet-poulain.com
• TEZEREN Yasemin : ytezeren@cabinet-poulain.com
• COLIN Claire : ccolin@cabinet-poulain.com
Restructuring
An original approach
"To save a distressed company, a dual expertise in both insolvency and corporate law is required in order to build the best recovery plans."
Jean-Paul Poulain. Capital Finance
"It is mandatory to go past the simple legal issues and to adopt a financial approach".
Jean-Paul Poulain. Capital Finance
The safeguard of a company requires the understanding of its business and does not consist in the application of formatted legal tools".
Jean-Paul Poulain. Capital Finance
In the restructuring practice, the firm's intervention is twofold: advising French or foreign companies or groups of companies, in their reorganization process or in their projects of acquisition of distressed companies.
The practice of restructuring consists in:
• analyzing all the difficulties of the company,
• providing advice in the choice of the most appropriate insolvency procedure, considering the company's situation and goals,
• insuring the follow-up of the company throughout the procedure's preparation process, in particular the relationships with the main suppliers, the statements of opening procedure (insolvency statement, safeguard opening statement),
• assisting the company throughout the procedure: negotiations with creditors, follow-up of the financial situation, protection of suppliers,
• handling the relationships with the receivers, the creditors' representatives and the commercial Courts,
• preparing and negotiating reorganization plans (continuation plan, transfer plan or safeguard plan), with the cooperation of creditors and representatives of the procedure,
• preparing the necessary steps in order to implement reorganization plans,
• assisting creditors of companies under receivership or safeguard procedures,
• insuring the protection of managers (natural persons or legal entities) facing personal legal proceedings.
Private Equity
A cross-sectoral approach
"A cross-sectoral approach of all the significant practices allows to solve the clients' difficulties in the best way and with the highest added-value."
Poulain & Associés advises French and foreign industrial or service companies and investment funds in their acquisition or divestment transactions (LBO, MBO, Build-up).
Scope of intervention:
• strategic, legal and tax analysis of the transactions (mergers and acquisitions, splits, or partial contributions of assets),
• setting-up of contemplated transactions and the creation of acquisition vehicles,
• drafting and negotiation of the acquisition and financing documents (contracts, agreements, shareholders agreements),
• issuance of securities¸ simple or complex,
• implementation and the follow-up of acquisitions with leverage
Within the framework of these operations, the firm also intervenes in banking law, commercial law, distribution law and antitrust law.
Litigation & arbitration
An essential and complementary practice
Litigation constitutes, for the firm, a strategic and essential complement to its restructuring and private equity practices.
In particular, the firm's litigation practice includes:
• actions linked to insolvency law,
• actions linked to commercial disputes,
• post-acquisitions disputes,
• tort actions against managers,
• arbitration proceeding.
Labor law
A set of skills
Poulain & Associés advises its clients on all kind of labor issues.
Scope of competence:
• implementation of redundancy plans,
• determining the terms and conditions of employees' transfers within the frame of redundancy plans or sales of businesses,
• employee-related consequences of mergers and acquisitions and reorganizations of companies,
• negotiation of collective agreements (industry agreements , companies' agreements),
• consultation with the employees' representatives,
• representation of clients before the competent Courts in relation with disputes arising from a breach of employment contracts or redundancy plans.
Focus
Highlight on the fields of intervention of the firm
Focus: Photo Station
The first safeguard procedure opened in France
The safeguard procedure of Photo Service was the first one to be implemented in France after the entry into force of the safeguard level dated July 26th, 2005. As such, Photo Service's safeguard procedure was highly regarded by the practitioners.
This file also represented an opportunity to test the meaning given by French judges to the concept of "difficulties that the debtor is unable to overcome" upheld the French commercial code as a condition for the opening of a safeguard.
Most importantly, the safeguard procedure of Photo Service enabled the company to proceed with a successful shop lifting of the 500 Photo Service and Photo Station stores located in France, Belgium, Switzerland, Luxembourg and Italy. A few months before the opening of Photo Service's safeguard procedure, Photo Station opened a receivership procedure and was taken over by an investor who submitted a recovery plan with the advice of the firm.
As part of these procedures, and thanks to a partnership concluded with Orange, under the control of the Antitrust authorities, Photo Service and Photo Station succeeded in the shifting of business, from a 100% picture-oriented business to mobile phone and multimedia services.
Focus: Majencia / Samas
From receivership to MBO
Illustration of the diversity of skills handled by the firm and the long-lasting relationships the firm has built with its clients.
In 2004, Poulain & Associés advised the Dutch group SAMAS within the framework of the receivership procedures of its French subsidiaries (SAMAS, RONEO, SANSEN) and assisted SAMAS throughout the procedures and the presentation of a continuation plan which was approved by the commercial Court of Nanterre in April 2005.
In 2008, the Dutch shareholder SAMAS NV (with a consolidated turnover of 390 M€ for the year 2007) requested the assistance of the firm in order to carry out the sale of its French subsidiary. Considering the various acquisition offers presented (by investment funds and companies acting in the same sector), the offer presented by the managers of SAMAS France was upheld by the shareholders. The firm assisted SAMAS in the implementation of this Management Buy Out transaction, which required, in particular, the negotiation of trade agreements between the Group and SAMAS France and its financing by way of a sale and lease back transaction.
Soon after the closing of the MBO transaction, SAMAS France became MAJENCIA.
www.majencia.com
Focus: Ebrex
A succession of reorganization procedures
Takeover of the second logistics company in France specialized in temperature-monitoring transportation, as part of a European strategy.
In 2007, the firm advised the Dutch group EBREX (turnover of 350 M€ and 650 employees) combined with the investment fund CAVENHAM within the framework of the buyout of the assets of the NEXIA Group, the second largest temperature-monitored logistics and transportation company, which filed for a receivership in 2007. The financing of the activity of EBREX France, was insured through a sale and lease back transaction with LFPI on the real-estate assets acquired from NEXIA.
Since the level of activity in 2008 was lower than expected, EBREX was forced to implement reorganization measures. To anticipate the lack of cash-flow, the managers requested, with the advice and assistance of the firm, the opening of a safeguard procedure which was successfully closed within five months and which allowed, in particular, EBREX France's recapitalization.
In 2010, EBREX France was acquired by a French actor of the logistics and transportation business with the assistance of the firm.
www.ebrex.fr
Focus: Groupe Rodriguez
A successful rescue from the sea
A complete reorganization of one of the world leaders in luxury yachts, in the context of a highly downgraded market
The firm advised the RODRIGUEZ Group, listed on the Euronext and specialized in the design, construction management and sale of luxury yachts and associated services (yacht brokerage, chartering, maintenance, management, shipchandler), in its reorganization, implemented through a safeguard procedure.
With the deterioration of the luxury yachts market during the second half year of 2008, resulting in high pressure on volumes and prices, the Group implemented significant measures taking into account its existing commercial commitments and its level of indebtedness.
The reorganization plan consisted in reducing the Group's costs structure by implementing successive cost-cutting measures (downsizing of the workforce through a redundancy plan, shutting-down of subsidiaries, termination of detrimental contracts), therefore enabling the Group to reduce its operating costs by approximately 50% and to lower its break-even point while waiting for a market take off.
The firm also advised the Group in its negotiations with its main partners in order to reduce its working capital requirements, to insure deliveries and to significantly reduce the amount of liabilities towards its suppliers.
The third component of the reorganization process consisted in renegotiating the Group's financial debt of the pool of banks in order to adapt it to the Group's financial capacity and the business forecast. The agreement negotiated with the banks included a significant debt write-off of approximately 30% of the total claim in principal and the conversion of 45% of the outstanding debt into bonds to be repaid in cash or to be converted in RODRIGUEZ GROUP shares.
By using the tools offered by the safeguard procedure, the Group's business model and level of indebtedness have been reshaped in order to be coherent with the business forecasts on the luxury yachts market.
The clients of the firm
International and French clients of the firm
Website credits
Editorial direction
• Yasemin TEZEREN
• Jean-Charles BARBAUD
Conception, Web-design & Development
Legal Mentions
Directeur de la publication :
M. Jean-Paul Poulain
Hébergement :
Ce site internet est hébergé par OVH
SAS au capital de 500 k€ RCS Roubaix – Tourcoing 424 761 419 00011
Code APE 6202A - N° TVA : FR 22-424-761-419-00011
Siège social : 2 rue Kellermann 59100 Roubaix - France.
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