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August Debouzy has assisted the Institut de Gestion Sociale (IGS) with its takeover of the Institut Supérieur Maria Montessori (ISMM) under a continuation plan
Communiqué August Debouzy | 15/03/24 | 1 min. | Laurent Cotret Clément Quernin Tom Louis
August Debouzy has advised the Institut de Gestion Sociale (IGS), one of the major players in higher education and vocational training in France (which offers education and training to almost 15,000 people a year), on the takeover under a continuation plan of the Institut Supérieur Maria Montessori (ISMM) and its two subsidiaries, Enfants du Monde Montessori and Montessori Diffusion.
Established in 1998, the Institut Supérieur Maria Montessori is a non-profit organization constituted under the French law of 1901 (“Association loi 1901”) which operates a private training and teaching institute based on the educational approach and principles developed by the Italian educator and physician Maria Montessori.
ISMM's training work is aimed at fostering the development of human potential, both through the training of Montessori educators for children aged 0 to 12 years old and the training of Montessori assistants or continuing education.
In 2023, a bidding process for the takeover of the Institute's assets was initiated as part of a divestment plan. To ensure the continuity of the Institut Supérieur Maria Montessori, the IGS group decided to prepare continuation plans to take control of the 3 entities under reorganization.
These plans were finally approved by the Paris Commercial Court on 16 February 2024, allowing IGS to take effective control of Institut Supérieur Maria Montessori.
The plans notably provide for the satisfaction of all allowed claims against the insolvency estate. At the same time, an agreement was negotiated with a major creditor of the Institut Supérieur Maria Montessori.
August Debouzy advised the IGS group. The team included Laurent COTRET, partner, Clément QUERNIN, senior associate, and Tom LOUIS, associate.
The Institut Supérieur Maria Montessori was advised by Jean-Pierre Farges of Gibson Dunn & Crutcher.