Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

US court will hear landmark application to recognise French safeguard plan

By Jessica McKay

15 June 2017

US court will hear landmark application to recognise French safeguard plan

 Paris iStock.com/neirfy

French oil services firm CGG has simultaneously filed for bankruptcy protection in France and the US while it sees through a financial restructuring, in what counsel says is the first time French and US courts will formally cooperate in cross-border proceedings.