The Conseil d’Etat (Highest Administrative Court) opportunely recalled quite recently that, in the absence of scientific certainty, the precautionary principle cannot be applied without taking into account the economic consequences associated with the withdrawal or the suspension of a market authorization. In the case at hand, the owner of the anti-inflammatory drug Ketum filed a […]
On December 16, 2009, the Autorité de la concurrence (French Competition Authority or hereinafter “Autorité”) published new guidelines on merger control (“Guidelines”) replacing and superseding the previous ones enacted by the French General Directorate for Competition Policy, Consumer Affairs and Fraud Control in 2004 and amended in 2007. These lengthy Guidelines (165 pages) aim at […]
In a decision dated December 15, 2009, the Commercial Chamber of the Cour de Cassation (French Supreme Court) recalled the importance of the drafting of pre-emption clauses and ruled that such clauses would not apply in case of contribution of shares.
Ordinance no. 2010-76 of January 21, 2010 established a new administrative control authority for the banking and insurance industries, the Autorité de contrôle prudentiel (Prudential Control Authority or hereinafter “ACP”). The ACP was formed through the merger of existing licensing and supervisory authorities that supervised the bank and insurance industries (i.e. the Commission Bancaire (Banking […]
In a decision dated December 15, 2009[1], the Commercial Chamber of the Cour de Cassation (French Supreme Court) recalled the importance of the drafting of pre-emption clauses and ruled that such clauses would not apply in case of contribution of shares. Please recall that a pre-emption clause gives shareholders a priority right to acquire any […]
The precautionary principle burst into the media and the judicial world right after the incorporation of the Environmental Charter – in which this principle is mentioned – into the French Constitution in 2005. Environmental groups and associations have since then successively targeted several industries that are of vital importance for our economy. 2005, 2006 and […]