Anker Sorensen

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Anker is a senior partner of the Financial Industry Group of the firm, practicing predominately in the area of Commercial Restructuring & Corporate with extensive experience in upper mid-market M&A work including in particular the sale and acquisition of underperforming companies, complex joint ventures, pre-bankruptcy strategy, restructuring companies, debt restructuring and related litigation.

Anker is one of the founding members of the French Division of the Turn Around Management Association (TMA), which he chaired until September 2007; and a member of the Editorial Board of the monthly publication “International Corporate Rescue”.

Anker gained extensive exposure and experience in the restructuring field after the publication of two of his books in English (Corporate Rescue Procedures in France and Director’s liabilities in case of insolvency) in 1996 and 1999. Over the years, a number of large foreign clients, for whom Anker worked on pure restructuring matters, also instructed him on transactional work and large cross border projects.

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The fiducie-sûreté: the most effective French security interest?

The French fiducie, introduced following years of debate into French law in 2007, is directly inspired by the English trust mechanism.  Even though there is no significant case law supporting this, some academics have gone so far as to refer to this mechanism as “the queen of securities”.  It has also been made more attractive … Continue Reading

Further Changes to French Corporate and Insolvency Legislation

In this article, Anker Sorensen, a partner of the Financial Industry Group of the Paris office of Reed Smith LLP, practicing predominantly in the area of corporate and restructuring, shortly describes and comments the main changes which have been introduced by the “Macron law” in the insolvency/corporate restructuring area, i.e.: the specialization of commercial courts … Continue Reading

French Supreme Court rules out liability for undercapitalising companies

In this article, Anker Sorensen, a senior partner of the Financial Industry Group of Reed Smith in Paris, practicing predominantly in the area of Corporate and Restructuring, discusses two recent decisions rendered by the Commercial chamber of the French Supreme Court. One of the decisions seems to set a standard for the lower courts when … Continue Reading

The Versailles Court of Appeal Fine-Tunes the Duty of Loyalty Owed by Managing Directors

A Managing Director of a French Société Anonyme has a statutory duty of loyalty towards the shareholders of such company. This principle was set in stone by a ruling of the French Supreme Court (Cour de cassation) in 1996. It has further been ruled that under this duty, a Managing Director (“MD”) must inform the … Continue Reading

Storms gathering for restructuring of group entities underscore need for up-to-date advice

In this article, the author Anker Sorensen, a senior partner of the Financial Industry Group of Reed Smith Paris, practising predominantly in the area of Corporate and Restructuring, sets out various recent labor related reforms applicable in France in 2014 and discusses recent court decisions, which may deter investors, and particularly foreign investors, instead of … Continue Reading

Welcome to Reed Smith’s Global Restructuring Watch Blog

If you’re reading this, you understand the necessity of keeping up-to-date on global restructuring trends and developments. Reed Smith’s global restructuring group is known worldwide as one of the premier practices focusing on complex financial restructurings, workouts, bankruptcies, insolvencies and other matters involving financially distressed transactions. We represent clients in the United States, the United … Continue Reading

Restructuring: Yet another major change in French Law and recommendations at EU Level

Major changes were inserted into French insolvency law earlier this year which came into effect July 1. Some of these changes were subject to further decrees that were to be adopted. One of the changes, namely the restriction of the faculty for creditors to offload all of their restructuring related advisory fees on the debtor … Continue Reading