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Article L311-32 of the French Insurance Code

Holders of equity securities referred to in Chapter II of Title I of Book II of the Monetary and Financial Code or other ownership securities or creditors of the person subject to resolution proceedings whose assets, rights and obligations are not transferred shall have no direct or indirect rights over the assets, rights or obligations transferred to the purchaser.

Original in French 🇫🇷
Article L311-32

Les détenteurs de titres de capital mentionnés au chapitre II du titre Ier du livre II du code monétaire et financier ou d’autres titres de propriété ou créanciers de la personne soumise à une procédure de résolution dont les biens, droits et obligations ne sont pas transférés n’ont aucun droit, direct ou indirect, sur les biens, droits ou obligations transférés à l’acquéreur.

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