The principle is not new but deserves to be recalled: A party that breaches its contractual obligations may be held liable not only towards its co-contracting party but also towards third-parties. This was re-affirmed by the Cour de Cassation (French Supreme Court) in a decision issued on October 20, 2015 in connection with a dispute […]
In a judgment dated November 10, 2015, the Cour de Cassation (French Supreme Court) confirmed that late penalties provided for under Article L. 441-6 of the French Commercial Code are to be considered as default interest. As such, these penalties can bear interest, as per Article 1154 of the French Civil Code. Article L. 441-6 […]
For several years, the diversification of funding sources has become a crucial challenge for French and European mid-market companies. In this context, private placements in the form of bonds or loans, known as the “Euro-PP” market, have grown significantly in France and in Europe, thereby offering companies an alternative to bank funding. The financing […]
Neither the public policy nature of the provisions set forth in Article L. 442-6 of the French Commercial Code nor the exclusive jurisdiction granted to judicial courts to hear restrictive trade practices related cases – including cases concerning the sudden breach of an established business relationship – precludes the use of arbitration to settle disputes […]
A decision handed down by the Cour de Cassation (French Supreme Court) on September 16, 2015 (n° 14-16.713) provides an answer to a problem that arose in connection with the termination of a trial period for which the company had to comply with both the “délai de prévenance” (i.e. an advance notice period that must […]
Wherever the ownership of equity shares is dismembered, when the shareholders resolve to pay a dividend out of distributable reserves, the right of use enjoyed by the beneficial owner of the equity shares applies – unless otherwise agreed upon between the beneficial owner and the bare owner – in the form of a quasi-usufruct to […]
Strategic Lawyering