28 June 2016

Corporate officers have a duty of loyalty with respect to sales of shares

In a decision dated April 12, 2016[1], the Commercial Chamber of the Cour de Cassation (French Supreme Court) clarified the scope of a well-established case-law according to which corporate officers/members of company boards, who are bound by a duty of loyalty towards their shareholders, must disclose to the shareholders wishing to sell them their shares […]

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24 February 2016

The Joint venture: A tool for companies to speed up their international expansion

Faced with a sluggish domestic economy and mature markets, French companies tend to expand internationally and seek new opportunities to secure their business. The joint venture, irrespective of whether it is imposed by the ever-intensifying global competition or under local laws that require the presence of a local partner, constitutes a development tool that is […]

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23 December 2015

Green bonds: A new tool for funding the energy transition?

“The longest journey always starts with one step” used to say François de la Rochefoucauld. On December 12, 2015, the COP21, also known as the 2015 Paris Climate Conference, ended with an historical agreement that provides fresh impetus in the fight against global warming. For the business community, this agreement is primarily a signal for […]

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29 October 2015

Conquering the UAE through a successful market entry strategy

Hydrocarbons, new technologies, building and civil engineering works, but also luxury tourism, renewable energies or agribusiness, the United Arab Emirates (the “UAE”) offers tremendous business opportunities for companies and such opportunities are enhanced as a result of the currently pursued policy of economic diversification[1]. In the UAE, generated profits are net of taxes and natural […]

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28 September 2015

The competitiveness of the French private equity and capital investment industry is reinforced with the creation of the Société de Libre Partenariat

In the current context of increasingly fierce competition between European private equity structures following the adoption of Directive 2011/61/EU, referred to as the “AIFM Directive” [1], aimed at creating an harmonized framework for alternative investment funds (“AIF”) in Europe while strengthening the protection of investors and savers, the French Government wanted to show that it […]

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27 March 2015

Interference and appearance in corporate groups

“Appearances can be true” according to French poet Eugene Guillevic. In a decision dated February 3, 2015, the Cour de Cassation (French Supreme Court) endorsed this oxymoron by ruling that a parent company that interferes in the commercial relationship of one of its subsidiaries, thereby suggesting that it has substituted itself for the latter in […]

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