Article L236-26 of the French Commercial code

As an exception to the provisions of Article L. 236-25, it may be stipulated that the companies benefiting from the demerger will only be liable for that part of the liabilities of the demerged company for which they are respectively responsible and without joint and several liability between them.

In this case, the non-obligated creditors of the participating companies may oppose the demerger under the conditions and with the effects provided for in the second to last paragraphs of article L. 236-15.

Original in French 🇫🇷

Article L236-26

Par dérogation aux dispositions de l’article L. 236-25, il peut être stipulé que les sociétés bénéficiaires de la scission ne seront tenues que de la partie du passif de la société scindée mise à leur charge respective et sans solidarité entre elles.

En ce cas, les créanciers non obligataires des sociétés participantes peuvent former opposition à la scission dans les conditions et sous les effets prévus aux deuxième à dernier alinéas de l’article L. 236-15.