All of French Company Law: ordinary law of companies and specific regime for different types of companies

Company Law (en cours)

Pledging consists of assigning, as security for an obligation, an intangible movable property or a set of intangible movable properties, present or future . Regarding the pledging of shares, the legislator has only specified that if the company consents to a pledge project of shares under the conditions provided in the first paragraph of Article L. 228-24, relating to the approval of a share trans …

Regime

Pledging consists of assigning, as security for an obligation, an intangible movable property or a set of intangible movable properties, present or future . Regarding the pledging of shares, the legislator has only specified that if the company consents to a pledge project of shares under the conditions provided in the first paragraph of Article L. 228-24, relating to the approval of a share transfer, this implies the approval of the transferee in the event of forced realization of the pledged shares unless the company prefers, after the transfer, to promptly repurchase the shares to reduce its capital . This is subject to the rules applicable to the pledging of securities accounts and the aforementioned financial securities.

Commercial Code, Art. L. 228-26; Cass. com., 19 December 2000, LawLex202300006210JBJ, considering that the prohibition for a company to grant a security for the subscription or purchase of its own shares by a third party does not apply to the situation where a company grants a pledge on the shares of a third-party company to a lender as security for funds borrowed to finance this acquisition; CE, 8 June 2007, LawLex202300006257JBJ, holding that a pledge on a securities account opened with a Swiss bank in exchange for deferred payment of additional income tax contributions may be refused by the Treasury if it does not offer availability sufficient to ensure the recovery of the latter's claim; CA Paris, 16 October 2014, LawLex202300006196JBJ, specifying that the reduction of capital by cancellation of the old shares of the absorbing company, which are the subject of the pledge, following a merger operation, causes the disappearance of the security, which cannot be transferred to the new shares created for the benefit of the shareholders of the absorbed company.

Company Law (en cours)

101. Regime

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101. Regime

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Les décisions de justice citées dans ce paragraphe :

Les notions juridiques connexes

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