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This scheme is the most confidential and the “lightest” in terms of proceedings andapplicable rules. When a company is experiencing specifically identified difficulties,its legal representative may request the President of the relevant commercial Court(Tribunal de commerce) or civil Court (Tribunal de Grande Instance) to appoint anexpert (mandataire ad hoc), who will help the management of the company to reachan agreement with creditors regarding a specific issue. In most cases, this issuerevolves around rescheduling payment of one or several debts. This appointment isstrictly confidential and does not affect the reputation or the financial credibility of thecompany. The mandataire ad hoc is usually an administrateur judiciaire (the Frenchequivalent of a receiver).The mandataire ad hoc has no binding authority over any party. His or her role ispurely advisory. The mandataire ad hoc will help each party understand the otherparty’s position and will propose alternative arrangements to resolve the matters atissue. If this mission is successful, the parties will prepare and execute a settlementagreement specifying the terms of their amicable arrangements.36