Translation of "accord de restructuration des sociétés " (French → English) :

multiyear debt rescheduling arrangement | multi-year rescheduling agreement | multi-year restructuring agreement | MYRA [Abbr.]

multi-year rescheduling agreement | MYRA | multi-year restructuring agreement

multi-year rescheduling agreement [ MYRA | multi-year restructuring agreement ]

Corporate Restructuring Co-ordination Committee

divisive reorganization | spin-off

(b) from the Minister of Indian Affairs and Northern Development to the Minister of Western Economic Diversification the powers, duties and functions under Regional Economic Expansion Vote 11a of the Appropriation Act No. 5, 1973, that were transferred by Order in Council 1987-1614 of August 4, 1987**, in relation to entering into subsidiary agreements to affect the purposes of General Development Agreements made with any of the Governments of the Provinces of Manitoba, British Columbia, Alberta and Saskatchewan except where those agreements affect only one firm, deal with the general advancement of science and technology, deal only with a comp ...[+++]rehensive restructuring of an industrial sector, or deal with the development of northern areas or with the tourism sector;

3. Is of the opinion that greater harmonisation of insolvency proceedings will promote equality and may have a positive impact on Member States' competitiveness and, therefore, on potential employment opportunities; is further of the opinion that disparities between national insolvency and restructuring laws create obstacles, competitive advantages and/or disadvantages or difficulties for companies with cross-border activities or ownership within the EU; takes the view that harmonisation of insolvency regimes will further promote a level playing field, give companies less reason to ...[+++] engage in ‘insolvency tourism’, remove obstacles to a successful restructuring of insolvent companies and preserve employment, thus affording employees greater protection;

This is to help restructure the company, which has been in financial difficulties for several years, namely by repaying some of its debts.

A. whereas disparities between national insolvency laws create competitive advantages or disadvantages and difficulties for companies with cross-border activities which could become obstacles to a successful restructuring of insolvent companies; whereas those disparities favour forum-shopping; whereas the internal market would benefit from a level playing field;