The Cour de Cassation (French Supreme Court) recently held that a price reduction clause contractually agreed upon between a supplier and its distributor can create a significant imbalance in the rights and obligations of the parties, within the meaning of Article L. 442-6 I §2 of the French Commercial Code. The concept of “significant imbalance”, […]
In a decision dated January 31, 2017, the Commercial Chamber of the Cour de Cassation (French Supreme Court) held that “unless otherwise agreed upon between the parties, the first demand guarantee, that does not follow the guaranteed obligation, is not transferred in case of a split-up”. This position has already triggered many comments and conflicting […]
On February 23, 2016, the Direction Générale de la Concurrence, de la Consommation et de la Répression des Fraudes (General Directorate for Competition, Consumer Protection and Frauds, hereinafter “DGCCRF”) released it 2016 activity report. In this report, the DGCCRF – which monitors the proper operation of the markets to the benefit of consumers and businesses […]
Holding several corporate mandates is a common practice in corporate groups. In general, it is assuredly useful to ensure a coherent management of the various group entities, in line with the group’s global policy. Yet, when the relevant corporate officer no longer fits the bill and when the group wishes to terminate him/her, the situation […]
Foreign parent companies whose French subsidiary is subject to insolvency/bankruptcy proceedings (judicial liquidation or receivership) can in certain instances be sued in tort by the employees of such subsidiary who have been dismissed. This type of claim in tort in the context of insolvency/bankruptcy proceedings is becoming an increasingly common practice in France. As such, […]
Since January 1, 2017, spouses who agree on the breakdown of their marriage and on the effects of such breakdown may divorce, without a judge, by signing a private agreement that must be countersigned by their respective lawyer and then recorded and kept by a notary. What are the practical implications of this reform? Article […]
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