By a decision dated February 12, 2013, the Commercial Chamber of the Cour de Cassation (French Supreme Court) provided an interesting illustration of a state of economic dependence that is defined as the impossibility, for a company, to benefit from a solution that would be technically and economically equivalent to the terms of the contractual […]
As a court-made doctrine enshrined in French law in 1985 and again in 2005, the commingling of assets and liabilities, i.e. a powerful weapon
Stormy times – or forthcoming fireworks – for French labor law governing dismissals on economic grounds: Article 13 of the Bill on securing employment (the “Bill”), that transposes Article 20 of the Inter-professional National Agreement (“INA”) of January 11, 2013[2], was presented to the Council of Ministers on March 6, 2013.[1] It sets out in […]
As a court-made doctrine enshrined in French law in 1985[1] and again in 2005[2], the commingling of assets and liabilities, i.e. a powerful weapon against the abuse of legal personality primarily committed within corporate groups which allows to extend safeguard, receivership or liquidation proceedings to one or several other person(s) when such person(s)’(s) assets and […]
To restore the competitiveness of French businesses, the Government has adopted a national growth pact, the flagship measure of which is the so-called Competitiveness and Employment Tax Credit (Crédit d’Impôt pour la Compétitivité et l’Emploi, hereinafter “CICE”). The CICE has a dual objective: reducing labor costs and providing an immediate response to companies’ working capital […]
The change in the method of allocation of profits between the shareholders provided for in the company’s by-laws does not constitute a gift insofar as (i) such change can only be made pursuant to a decision of a corporate body, and (ii) the profits earned by the company are considered as having the nature of […]