Going-concern value
Assessment of enterprise value on a going-concern basis, using a multi-criteria approach.
CPA Expertise (Affected Parties Classes)
Independent expertise in the financial restructuring of companies in difficulty. Analysis of enterprise values and their allocation among classes of affected parties.
When is this expertise required?
We assist companies facing financial difficulties in order to facilitate negotiations, in particular within the framework of a conciliation preceding safeguard proceedings.
Our work is carried out in accordance with the rules applicable to the affected parties classes regime, notably pursuant to Articles L. 626-31 and L. 626-32 of the French Commercial Code.
METHODOLOGY
Our approach is based on the analysis of several enterprise values, followed by their allocation among the classes of affected parties according to the applicable seniority ranking.
Global disposal scenario
Analysis of a first liquidation scenario based on the disposal of all or part of the business establishments or divisions.
Separate assets scenario
Analysis of a second liquidation scenario incorporating closure costs, employment contract termination costs and advisory fees.
Allocation among classes
Allocation of the estimated enterprise values among the classes of affected parties, according to the applicable seniority ranking.
We intervene in financial restructuring contexts, particularly in conciliation proceedings, as well as at the request of listed companies seeking exemptions from the obligation to file a mandatory takeover bid.
We analyse a going-concern value and two liquidation values, based on global disposal or separate assets scenarios.
The waterfall refers to the order of priority according to which the enterprise value is allocated among the classes of affected parties. Each class is paid according to its rank, which makes it possible to assess the fairness of the plan.
Yes. It can be requested by a listed company seeking an exemption from the obligation to launch a mandatory takeover bid.
WHAT WE OFFER
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A multi-scenario approach
Analysis of enterprise values under going-concern and liquidation disposal scenarios.
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Recognised and independent judicial expertise
Recognised experience in valuation and judicial matters, enabling an objective assessment of enterprise values in the context of financial restructuring or company distress.
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Useful insight for negotiations
Analyses that shed light on the allocation of value among the parties and facilitate discussions.
