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Corporate Law

30 January 2020 | Florence Grangerat

Private Equity in France: Focus on available exit routes

Private equity involves the association of one or more entrepreneurs and one or more financial investors who provide financing to unlisted companies and even sometimes listed companies.

In private equity transactions, investors are expected to exit in the short or medium term. Several exit routes are available to capital investors: trade sale, transfer to the management team, sale to another investment fund or initial public offering.

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28 November 2019 | Florence Grangerat

PACTE Law: Softened conditions for operating a shareholder current account

The so-called PACTE Law No. 2019-486 of May 22, 2019 has streamlined the terms and conditions governing current account advances (i) by lifting the requirement under which the shareholders had to hold at least 5% of the company’s share capital on the one hand, and (ii) by legally recognizing the validity of current account advances made by Presidents of simplified joint stock companies and by general managers and deputy general managers of joint stock companies and simplified joint stock companies on the other hand.

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27 September 2019 | Soulier Avocats

Property ownership tax and commercial lease: Who should pay ?

The property ownership tax (taxe foncière) is a local tax levied once a year by municipalities. To calculate the amount of the tax, tax authorities use the cadastral rental value of the property. This base is then multiplied by the tax rate set by each municipality. Any owner of a real estate property is liable for the property ownership tax. However, while the owner is effectively legally liable for this tax, it is permissible, under a commercial lease agreement, for the latter to pass all or part of the burden of this tax to the lessee of the property. But what exactly does the law say?

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27 June 2019 | Soulier Avocats

New thresholds immediately applicable for the appointment of statutory auditors

Following a report drawn up by the General Inspectorate of Finance on the certification of the accounts of French small businesses, the Government has included in the Law on business growth and transformation, known as the “PACTE” Law , provisions for an harmonization of the thresholds for the appointment of statutory auditors regardless of the corporate form of the company whose accounts are certified, thereby raising the certification thresholds in commercial companies to the level of the thresholds for small businesses provided for in the Accounting Directive 2013/34/EU of the European Parliament and the Council of June 26, 2013.

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