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Article L225-228 of the French Commercial code

The statutory auditors shall be proposed for appointment by the general meeting by means of a draft resolution from the board of directors or the supervisory board or, under the conditions defined in section 3 of this chapter, from the shareholders. .

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Article L225-231 of the French Commercial code

An association meeting the conditions set out in Article L. 22-10-44, as well as one or more shareholders representing at least 5% of the share capital, either individually or grouped together in any form whatsoever, may put questions in writing to the Chairman of the Board of Directors or to the Management Board about one or more management operations of the company, as well as, where applicable, of the companies…

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Article L225-232 of the French Commercial code

One or more shareholders representing at least 5% of the share capital may, twice a financial year, put questions in writing to the Chairman of the Board of Directors or to the Management Board about any fact likely to jeopardise the continued operation of the company. The statutory auditor, if any, shall be informed of the answers.

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Article L225-243 of the French Commercial code

Any public limited company may convert into a company of another form if, at the time of conversion, it has been in existence for at least two years and has drawn up and had approved by the shareholders the balance sheet for its first two financial years.

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Article L225-244 of the French Commercial code

The conversion decision is taken on the report of the company’s statutory auditors, if any. The report certifies that the shareholders’ equity is at least equal to the share capital. The conversion is subject, where applicable, to the approval of the bondholders’ meetings and the meeting of holders of profit shares or founder’s shares. The conversion decision is subject to publicity, the terms of which are set by decree in…

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Article L225-245 of the French Commercial code

The conversion to a general partnership requires the agreement of all the partners. In this case, the conditions set out in articles L. 225-243 and the first paragraph of article L. 225-244 are not required. The conversion into a limited partnership (société en commandite simple) or a limited partnership with shares (société en commandite par actions) is decided under the conditions provided for the amendment of the Articles of Association…

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Article L225-245-1 of the French Commercial code

In the event of the conversion of a société anonyme into a société européenne, the first paragraph of Article L. 225-244 does not apply. The company draws up plans to convert the company into a société européenne. This draft is filed with the registry of the court in whose jurisdiction the company is registered and is subject to publicity, the terms of which are set by decree in the Conseil…

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Article L225-248 of the French Commercial code

If, as a result of losses recorded in the accounting documents, the company’s shareholders’ equity falls below half of the share capital, the Board of Directors or the Management Board, as the case may be, is required, within four months of the approval of the accounts which showed the loss, to convene an Extraordinary General Meeting to decide whether the company should be wound up early. If the company is…

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Article L225-249 of the French Commercial code

The founders of the company to whom the nullity is attributable and the directors in office at the time when it was incurred may be declared jointly and severally liable for the damage resulting for the shareholders or for third parties from the nullity of the company. The same joint and several liability may be pronounced against those shareholders whose contributions or benefits have not been verified and approved.

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