Where a provisional administrator has been appointed by the Autorité de contrôle prudentiel et de résolution pursuant to Article L. 612-34, the court may only entrust the administrator with the supervision of management operations, as provided for in Article L. 622-1 of the French Commercial Code.
In the event of the opening or pronouncement of compulsory liquidation proceedings in respect of a credit institution, finance company, electronic money institution, payment institution or investment firm, the Autorité de contrôle prudentiel et de résolution shall appoint a liquidator who shall make an inventory of the assets, carry out liquidation operations and make redundancies, in accordance with the terms and conditions set out in Title IV of Book VI…
In the event of the opening of safeguard, reorganisation or liquidation proceedings in respect of a credit institution or an investment firm, the guarantee fund and the depositors are exempt from the declaration provided for in Article L. 622-24 of the French Commercial Code in respect of their claims falling wholly or partly within the scope of intervention of the fund. The fund informs the depositors of the amount of…
The opening of safeguard, receivership or compulsory liquidation proceedings, as well as any enforcement proceedings and any equivalent legal proceedings opened against a payment institution on the basis of foreign law, shall not affect funds received from payment service users deposited or invested in financial instruments held in accounts opened specifically for this purpose under the conditions set out in Article L. 522-17. In the event of the opening of…
The opening of safeguard, receivership or liquidation proceedings, as well as any enforcement proceedings and any equivalent legal proceedings opened under foreign law against an electronic money institution, shall not affect funds collected from electronic money holders deposited or invested in financial instruments held in accounts opened specifically for this purpose under the conditions laid down in Article L. 526-32. In the event of the opening of safeguard, reorganisation or…
I. – In the event that compulsory liquidation proceedings are opened against a credit institution under Book VI of the French Commercial Code, creditors holding a preferential right, pledge, collateral security or mortgage contribute to the distribution in proportion to their admitted claims: 1° Firstly, creditors holding deposits for the portion of their deposits covered by the guarantee instituted pursuant to 1° of II of Article L. 312-4, and the…
The provisions relating to the safeguarding, reorganisation and liquidation of credit institutions and investment firms set out in articles L. 613-25 to L. 613-30 and L. 211-10 do not apply to legal proceedings opened before 29 June 1999.
This sub-section applies to the reorganisation measures and winding-up proceedings of credit institutions, investment firms other than portfolio management companies and their branches established within the territory of a Member State of the European Union other than that of the registered office. States party to the Agreement on the European Economic Area are treated in the same way as Member States of the European Union. This sub-section also applies to…
I.-The reorganisation measures referred to in this sub-section are measures taken in France or in any other Member State by the administrative or judicial authorities, intended to preserve or restore the financial situation of a credit institution or investment firm and which affect the pre-existing rights of third parties. Where such measures are taken in France and affect such rights, they are : 1° The measures referred to in 3°…
Subject to the provisions of Articles L. 613-31-5 and L. 613-31-6 : 1° Reorganisation and winding-up measures decided by the competent authorities of a Member State other than France in respect of a credit institution or investment firm having its registered office in the territory of that State shall be fully effective in mainland France, the overseas departments and the Department of Mayotte and Saint-Martin without any further formality, including…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
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
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
Resources
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
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
