Relationship Tensions: protecting attorney/client privilege while respecting tax avoidance legislation

Corporate – Joint-Ventures - March 4, 2019

A number of legislative measures restraining the attorney-client privilege have been implemented in France during the past 20 years. The most controversial of these restraints affect tax attorneys, who are often authors of the out-lines of tax regularisation. As a fundamental ethi-cal principle of the profession, the attorney-client privilege is actively protected by French attorney […]

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Anticorruption – SAPIN II Law and the effective beneficiary declaration

Corporate – Joint-Ventures - April 12, 2018

Nowadays corruption is an important topic among our international concerns – May 2018 will see a cycle of anticorruption conferences begin in the USA, Brazil and China -, the French Sapin II Law, transposing European Directives against money laundering (notably Directive UE 2015/849), is at the forefront of an anticorruption program in France. The Sapin II […]

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Intercompany loans: a limitation to the banking monopoly?

Corporate – Joint-Ventures - July 27, 2016

The “Macron Law” (so named after the name of the French Minister of Finance) of August 6, 2015 for growth, activity and equal economic opportunities authorizes companies to provide loans to each other for a period of less than 2 years. The implementation decree of April 22, 2016 sets the conditions and limits to those […]

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How many shareholders for a private company limited by shares?

Corporate – Joint-Ventures - September 25, 2015

Within the framework of the “shock of simplification” announced and undertaken by the French government, the number of required shareholders has been dropped from 7 to 2. The September 10th 2015 Decree aligns the minimum number of required shareholders in a private company limited by shares (S.A.: Société Anonyme) to the number planned for by […]

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The ALSTOM Decree: a legitimate economic patriotism?

Corporate – Joint-Ventures - July 10, 2014

The ALSTOM saga, which recently resulted in the sale of the company’s energy branch to General Electric and allowed the French Government to enter into the company’s capital, crystallized in an on-going “battle” between the leading companies of the tender bid and the French government. Once GE showed interest in the acquisition of the energy […]

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Statutory limitations on the powers of a general manager of an S.A.S.(French Simplified Joint Stock Company) are unenforceable against a third party

Corporate – Joint-Ventures - December 19, 2013

The objective of the creation of the S.A.S. (French simplified joint stock company) was to grant more freedom to the partners. Freedom of choice regarding organization, operation and governance of the company was therefore guaranteed. In 2003, the legislator strengthened this freedom by inserting a new Article into the French Commercial Code: Article L. 227-6. In […]

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