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New French Civil Code: Protecting the Weaker Contracting Party

This is our fourth client alert on the new French contract law provisions applicable to French law governed contracts concluded after 1 October 2016. In our previous client alerts, we outlined this legal revolution in...more

The ICC Expedited Procedure Provisions: A New Offering

On 1 March 2017, the new ICC Expedited Procedure Provisions came into force with the aim of reducing cost and improving efficiency for arbitration claims under US$2 million (or a higher amount, if the parties agree). With the...more

Pre-contractual Negotiations – a New Codified French Regime

New French contract law provisions are now in force and apply to any contracts concluded after 1 October 2016. In previous related client alerts, we outlined this legal revolution in France and described the new...more

2/27/2017  /  Contract Disputes , France , Good Faith

Accelerated Justice in the French Cassation Court – A New Beginning

In a recent, little-commented legislative change, the French Cassation Court is now permitted to overturn a lower court decision and hand down a final binding ruling where “justified in the interests of the good...more

Enforcement Of Arbitral Award Refused: A Tale Of Dirty Deals, Demurrage And Discontent

Pursuant to article V of the 1958 New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, a national authority may refuse to enforce or recognise a foreign award on certain limited grounds,...more

Annulment of International Arbitral Award: the French Conseil d’Etat Makes First Foray into the Fiefdom of the Civil Cassation...

On 9 November 2016 and for the first time, the French State Council (Conseil d’Etat) set aside an international arbitral award. The award related to a public contract performed in France. The award was partially set aside on...more

Mediate or Lose Your Claim. A Salutary Reminder for Claimants in French Court and Arbitration Proceedings

In France, a failure to mediate, conciliate or even negotiate prior to initiating claim, can be a source of significant risk to a claimant in arbitration and court proceedings. Such failure can in fact be terminal for the...more

Volte face as hardship becomes part of French law

We sent out a client alert in April on the approaching entry into force of the new French civil code. We highlighted four innovations arising out of this major legal reform. This alert focuses on the introduction of the...more

Legal revolution in France – civil law reforms (or Napoleon’s second coming)

This alert draws attention to the approaching entry into force of the new French civil code. This will be of interest to all parties with French law-governed agreements or that do business in France – especially regarding...more

Rome II – Applicable law to tort claims and indirect consequences – clarification from the ECJ

In a decision handed down last week (10 December 2015), the ECJ has ruled that the law applicable to any claim for indirect consequences of a tort will generally be governed by the law of the country where the direct damage...more

Third Party Successfully Challenges Arbitral Award

Introduction - In France, a procedure exists whereby a third party (X) affected by a judgement between two other parties (Y,Z), may challenge that judgement by way of third party action (tierce opposition), where that...more

Does French law recognise a duty to mitigate?

Introduction - On 2 July 2014, the 1st Civil Chamber of the French Cassation Court reaffirmed that a tortfeasor is liable for all consequences resulting from his or her tort. The victim of the tort has no duty to...more

12/2/2014  /  France , Loss Mitigation , Tort Reform

ROME II – Opportunities and Risks for the Financial Sector

This alert reports a French case that relates to a hedge fund registered in the Cayman Islands, the investment agreement of which was governed by Cayman law, and where the actions complained about (withdrawing from the fund)...more

Distribution of dividends in kind: a useful way to divest company holdings in favour of shareholders: TCI, EADS, Dassault and Co.

Summary - Like English and U.S. laws, French law allows, under certain conditions, public joint stock companies (“sociétés anonymes”) or simplified joint stock companies (“sociétés par actions simplifiées”) to...more

9/30/2013  /  Dividends , EU , Shareholders

French Ruling reinforces board members’ right to information prior to their revocation

Summary - The French Court of cassation recently decided that it is a prerequisite that board members of public companies (“sociétés anonymes”) be informed of the reasons for their revocation, prior to this issue being...more

Crowdfunding: first steps from French regulators until specific regulation next September

Crowdfunding basically consists in the funding of a project by raising many small amounts of money from a large number of people, typically via the Internet. Primarily used in specific artistic sectors, such as the music or...more

A Story of Stock, Security and Simplicity Sacrificed Under French Law

Introduction - In matters of security over personal property, France for a long time had a complex system of general and particular regimes. It had been hoped that legislative reform in this area, brought about by a...more

4/25/2013  /  Creditors , Debtors , Private Property , Stocks

Creditors Beware - Time to Health Check Your Terms and Conditions of Sale & Invoicing Practices

Introduction - Under Directive 2011/7/EU dated 16 February 2011, EU states had until the middle of this month to implement a number of measures to combat against late payment of invoices in commercial transactions, an...more

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