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23-512: In 2013, Cdiscount held a significant position in the French e-commerce industry, boasting the highest turnover with a growth rate that exceeded the market's average for that year. Cdiscount's operations extend across six countries, including France, Belgium, Germany, Spain, Italy, and Luxembourg. Founded in December 1998 by three brothers, Hervé, Christophe and Nicolas Charle, Cdiscount has been

46-596: A different Chapter 15 dealing with the United States Trustee Program , which it established as a trial in some judicial districts to assume roles which formerly belonged to the bankruptcy judge and others, including the selection and oversight of private trustees in individual cases. At that time, the other chapters of the Bankruptcy Code described how bankruptcy worked in districts without United States Trustees; original Chapter 15 modified

69-516: A foreign proceeding under Chapter 15 is a matter of discretion. The main consideration US courts will take into account in making this decision is whether the laws of the foreign jurisdiction violate the laws or public policy of the United States and whether the foreign courts conduct their proceedings according to basic rules of procedural fairness. Among other factors the US courts will consider

92-523: A person or institution to whom money is owed. The first party, in general, has provided some property or service to the second party under the assumption (usually enforced by contract ) that the second party will return an equivalent property and service. The second party is frequently called a debtor or borrower . The first party is called the creditor, which is the lender of property, service, or money. Creditors can be broadly divided into two categories: secured and unsecured . The term creditor

115-508: A right to levy against a particular piece of property, or against the debtor's accounts in general, the rules governing creditors' rights determine which creditor has the strongest right to any particular relief. Generally, creditors can be divided between those who " perfected " their interest by establishing an appropriate public record of the debt and any property claimed as collateral for it, and those who have not. Creditors may also be classed according to whether they are "in possession" of

138-477: A subsidiary of Casino Group since February 2000. In September 2008 Casino Group increased both its direct and indirect participation to 79,6% of the capital and adopted a new structure with a board constituted of Casino founders and representatives. In January 2011, Casino Group bought the Charle brothers' shares and now possess 99.6% of the capital. In October 2014, Cdiscount continues its internationalization with

161-696: Is frequently used in the financial world, especially in reference to short-term loans , long-term bonds , and mortgage loans . In law, a person who has a money judgment entered in their favor by a court is called a judgment creditor . The term creditor derives from the notion of credit . Also, in modern America, credit refers to a rating which indicates the likelihood a borrower will pay back their loan . In earlier times, credit also referred to reputation or trustworthiness . In accounting presentation, creditors are to be broken down into 'amounts falling due within one year' or 'amounts falling due after more than one year'... The financial statements presentation

184-460: Is how the foreign jurisdiction treats creditors , whether it prevents fraudulent transfer of debtor's property, whether US creditors are protected against prejudice in the processing of their claims in the other country, and the manner in which assets are distributed. The court may conduct an evidentiary hearing, including considering expert testimony , to determine whether those and other factors are satisfied. The original 1978 Bankruptcy Code had

207-473: Is now applied in most states, its text was then merged into the main Bankruptcy Code; separate provisions were enacted for Alabama and North Carolina, where other officers of the court assume the role of the United States Trustee. Creditor A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is

230-400: Is often a more efficient and less costly alternative to initiating an independent bankruptcy proceeding in the United States. Chapter 15 also avoids conflicts and establishes mechanisms for cooperation between US and foreign courts and representatives regarding proceedings which involve the same debtor . Whether the US courts will extend the "additional assistance" sought in connection with

253-498: Is structured around 40 stores organized in categories: cultural goods, high-tech, IT, household appliances, and personal appliances (games, toys…). In order to grow further Cdiscount has incorporated high-potential goods and services under their banner (financing, insurance, travel, wine, mobile phone subscription…). In 2006 Cdiscount opened a pilot physical store in Le Bouscat near Bordeaux (France) that utilises sales data from

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276-406: Is this: Creditors' rights are the procedural provisions designed to protect the ability of creditors—persons who are owed money—to collect the money that they are owed. These provisions vary from one jurisdiction to another, and may include the ability of a creditor to put a lien on a debtor's property, to effect a seizure and forced sale of the debtor's property, to effect a garnishment of

299-539: The Insolvency Practitioner and readily accept annual reports when submitted. Under the Companies Act 2006 , a company's creditors may apply to the court for an order summoning a meeting of the creditors or some of the creditors who fall into a specific category, in order to consider a compromise or " arrangement " between the company and its creditors. If a majority representing 75% in value of

322-843: The U.S. Bankruptcy Code in 1978. Section 304 was repealed in 2005 and replaced with Chapter 15, titled "Ancillary and Other Cross Border Cases". This section has increased the range of options available in the United States in support of foreign bankruptcy proceedings. Chapter 15 incorporates the Model Law on Cross Border Insolvency drafted by the United Nations Commission on International Trade Law . The law provides solutions to problems which arise in connection with cross-border bankruptcy, allowing US courts to issue subpoenas , orders to turn over assets, stays on pending actions, and orders of other types as circumstances dictate. The ancillary proceeding permitted under Chapter 15

345-426: The United States courts and the foreign courts, as well as other authorities of foreign countries involved in cross-border insolvency cases. It happens with increasing frequency that a bankruptcy proceeding in one country has a connection to assets or information located in another. Because of the involvement of multiple jurisdictions, unique problems arise, and in response, the United States enacted Section 304 of

368-842: The area in the logistics site of Cestas Pot au Pin. Since the involvement of Casino Group with Cdiscount the distribution strategy has evolved and now incorporates the Casino Group stores. New delivery points dedicated to Cdiscount are being built in the Casino stores. Chapter 15 bankruptcy Chapter 15, Title 11, United States Code is a chapter of the United States Bankruptcy Code that deals with jurisdiction in certain bankruptcy cases. Under Chapter 15, foreign bankruptcy proceedings can be recognised by US courts and foreign representatives can participate in domestic proceedings. This allows cooperation between

391-500: The area of creditor's rights perform one or all of the following: In the UK, once an Individual Voluntary Arrangement (IVA) has been applied for, and is in place through the courts, creditors are prevented from making direct contact under the terms of the IVA. All ongoing correspondence of an IVA must first go through the appointed Insolvency Practitioner . The creditors will begin to deal with

414-447: The collateral, and by whether the debt was created as a purchase money security interest . A creditor may generally ask a court to set aside a fraudulent conveyance designed to move the debtor's property or funds out of their reach. Some lawyers have a specialized practice area focused on the collection of such debts . Such attorneys are frequently referred to as collection attorneys or collection lawyers. Attorneys who practice in

437-455: The creditors or class of creditors present and voting either in person or by proxy at the meeting agree a compromise, the meeting may apply to the court for the compromise to be enforced. The same provision would apply to members ( shareholders ) of a company seeking to make an arrangement with the company. The Corporate Insolvency and Governance Act 2020 makes similar provision where a compromise has been proposed between creditors or members and

460-443: The debtor's wages, and to have certain purchases or gifts made by the debtor set aside as fraudulent conveyances . The rights of a particular creditor usually depend in part on the reason for which the debt is owed, and the terms of any writing memorializing the debt. Creditors' rights deal not only with the rights of creditors against the debtor, but also with the rights of creditors against one another. Where multiple creditors claim

483-497: The opening of cdiscount.com.br in Brazil, with the support of Cnova Brasil. In 2023, Cdiscount's parent Casino announced that they have completed a deal to avoid bankruptcy. This restructuring procedure would allow for the company to cut high debt and improve recent losses to other rival supermarket corporations. In 2024, Casino USA filed for Chapter 15 bankruptcy . Cdiscount.com is an online retailer for goods and services. Its range

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506-565: The text of the other chapters for districts with United States Trustees. Section numbers in original Chapter 15 incorporated the section numbers in the main Code that they modified; for example, section 151325 (a section of original Chapter 15) modified section 1325, which sets the requirements of Chapter 13 plans. Since the trial program was considered a success, Congress in 1984 ordered the creation of United States Trustees in all states except Alabama and North Carolina . Since original Chapter 15

529-564: The websites to select only the best-selling products. This store also acted as a delivery point for small packages. A second store opened up in 2011 in Paris's 7th district, Rue du Bac . This store displays the bestsellers from the website in every category, totalling over 2000 products across high-tech, IT, appliances, toys, DVDs, video games, and wines and spirits. The company being based in Bordeaux (region of Gironde), products are stocked in

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