French Courier Company Enters Bankruptcy Proceedings

Law360, New York (November 22, 2013, 3:28 PM ET) -- French courier service Mory Ducros on Friday announced that it has entered bankruptcy proceedings, saying it has been unable to implement a turnaround plan since the company was established via a merger in January.

The insolvency has caused the company to suspend payments and will eliminate the jobs of 5,000 Mory Ducros employees and another 2,000 subcontractors, the French Democratic Confederation of Labour, or CFDT, union said. But the company says that the insolvency will help it restructure under more financially viable terms and that it...
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