French Court Rules on Safe Harbor of Netting Agreements in Insolvency

In Short

The Situation: For the first time ever, a court in France has examined the compatibility of the statutory netting safe harbor with the French Constitution. The French High Court of Justice (Cour de cassation) addressed the preliminary question of constitutionality in the context of an insolvency proceeding and handed down its decision on March 6, 2024.

Filed under:
France, Derivatives, Insolvency & Restructuring, Litigation, Jones Day, Supreme Court of the United States, Court of Cassation (France)
Authors:
Alban Caillemer du Ferrage , Dickson Chin , Qian Hu , Peter Petraro , Christopher Arnold (Chris)
Location:
France
Firm:
Jones Day