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14/05/2014 PROFILE > Direction , Expert-comptable

Florange Law: supporting staff representatives with an expert

Law no. 2014-384 of 29 March 2014 aimed at reconquering the real economy, known as the Florange law, has been published on the Official Journal. It makes provision for seeking a takeover in the event of closure of a profitable site for companies with at least 1,000 employees and companies belonging to a group of at least 1,000 employees.

In this framework, information should be provided to staff and administration. It is henceforth necessary for the employer to convene and inform the Work's Council on the planned closure of the establishment at the latest upon initiation of the information and consultancy procedure for which provision is made under article L. 1233-30 of the Labour Code.

Moreover, in the event of any takeover offers, the company director is obligated to inform the Work's Council at the latest 8 days following receipt (this information is confidential). The latter may issue an opinion, participate in seeking a takeover party and make offers.  At its request, the employer shall grant it access to information provided to companies bidding for takeover.

The Work's Council may moreover be assisted by an expert of its choice, remunerated by the company pursuant to article L. 1233-57-17 of the Labour Code. For instance, a chartered accountant may offer support in the process of seeking a party for the takeover and in considering the takeover offers.