A scandal in the world of letters and old manuscripts would not have gone unnoticed and the French case of Aristophil has lead to extensive press coverage; a massive fraud is suspected with thousands of works and hundreds of millions of euros at stake.
The continued modernisation of the French economy has been a long and difficult process but, as a former British prime minister was fond of saying, “there is no alternative”.
Fidèle à sa jurisprudence, la Cour de cassation réitère sa position : de la seule fonction de dirigeant ne peut se déduire la qualité de caution avertie. En pareil cas, c’est à l’établissement de crédit de prouver qu’il s’est acquitté de son devoir de mise en garde lorsqu’il en est effectivement tenu.
In the context of the EU Directive 2019/1023/UE of 20 June 2019 (“Directive”) and in the aftermath of the Covid crisis, France has reformed its insolvency legislation. The purpose of the legislation is both to implement the requirements of the Directive into the French legislation, but also to tackle the consequences of the Covid crisis and endorse some of the measures that have been taken in this respect and have brought the number of insolvency proceedings to a historic low, as well as other measures.
Cass. Com., 10 mars 2021, n°19-12.825
Dans le cadre d’une procédure de liquidation judiciaire, un liquidateur a assigné directement et conjointement le dirigeant de la société et son assureur pour demander leur condamnation solidaire au paiement de l’insuffisance d’actif des sociétés sur le fondement des articles L. 651-2 du code de commerce et L. 124-3 du code des assurances.
Cass. com., 10 mars 2021, n° 19-22.385
L’article L. 622-24 du Code de commerce est clair : tout mandataire ou préposé du créancier peut effectuer pour le compte de celui-ci une déclaration de créance au passif d’un débiteur à l’encontre duquel une procédure collective a été ouverte.
En effet, cet article prévoit notamment (alinéa 2) que :
This quick guide summarises the duties that directors of companies incorporated in France are subject to, and how those duties change when the company is insolvent or at risk of being insolvent.
This quick guide summarises the duties that directors of companies incorporated in France are subject to, and how those duties change when the company is insolvent or at risk of being insolvent.
It also gives an overview of the personal risk to directors when the company is in financial difficulty.
French businesses face significant business disruption, as does any country faced with restrictions in place to curb movement of people because of Covid-19.
In this blog we consider what the restrictions are in France and what help is on offer.
What restrictions are in place and why is this impacting businesses?
The current restrictions, announced on March 16, 2020 by the President of the Republic are designed to minimize contact and travel and will be in place from Tuesday, March 17 at 12:00 p.m., for a minimum of fifteen days.
TA Montreuil 18-1-2018 n°1701374
Le tribunal administratif de Montreuil apporte des précisions dans le cadre des opérations de dissolution sans liquidation.
D’une part, il étend la solution rendue en matière de fusions aux transmissions universelles de patrimoine en jugeant que les charges et les dettes nées chez l’absorbée avant la fusion sont prise en compte pour le calcul de la rémunération des apports et doivent donc être considérées comme un élément du prix d’acquisition et non comme une charge se rapportant à la gestion de l’absorbante.