In the event of a transfer of assets included in a leasing transaction, and for the duration of the transaction, the transferee is bound by the same obligations as the transferor, who remains the guarantor.
The provisions of the second and third paragraphs of article 3-1 of decree no. 53-960 of 30 September 1953 (1), as amended and supplemented by law no. 65-356 of 12 May 1965, do not apply to property leasing contracts. Under penalty of nullity, such contracts shall stipulate the conditions under which they may be terminated at the lessee’s request.
The transactions referred to in article L. 313-7 must be publicised in a manner determined by decree. This decree specifies the conditions under which failure to publicise the transaction will result in it not being enforceable against third parties.
All open-ended loans, other than occasional loans, granted by a credit institution or finance company to a company may only be reduced or interrupted following written notification and the expiry of a notice period fixed at the time the loan was granted. This period may not be less than sixty days, failing which the loan will be null and void. In compliance with the applicable legal provisions, the credit institution…
Credit institutions or finance companies shall provide companies applying for a loan or receiving a loan with their rating and an explanation of the factors that led to the rating decisions concerning them, when they so request. Such explanations or information may not be requested by or disclosed to third parties.
Every quarter, the Banque de France publishes a document based on the volume of outstanding loans and new loans granted by credit institutions or finance companies to businesses, showing the share and volume of loans granted to : – to companies created less than three years ago ; – small and medium-sized enterprises. The data specifies, for each category, the number of companies concerned.
The State, subject to Articles L. 313-18 to L. 313-20, credit institutions, finance companies, other commercial companies, alternative investment funds governed by Section 2 of Chapter IV of Title I of Book II and authorised to grant loans to non-financial companies, public establishments, the list of which is set by decree in the Conseil d’Etat, insurance companies and mutual insurers, non-profit associations referred to in Article L. 5, mutual insurers…
Equity loans are recorded on a specific line of the balance sheet of the organisation granting them and of the company receiving them, which also mentions them in the notes provided for in article L. 123-12 of the French Commercial Code. For the purposes of assessing the financial position of the companies receiving them, they are treated as equity capital.
In the event of amicable liquidation, compulsory liquidation or receivership by sale of the debtor company, the equity loans are repaid only after all other preferential or unsecured creditors have been paid in full. In the absence of contractual stipulations to the contrary requiring the overall agreement of all the holders of the participating loans, the latter are placed on the same rank for the purposes of the distributions to…
In the event of the debtor company being wound up by the court as a going concern, repayment of the equity loans and payment of the remuneration provided for are suspended for the duration of the execution of the safeguard or receivership plans.
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182, rue de Rivoli
75001, Paris France
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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