Section 3: Offences relating to obligations

It is punishable by a fine of 9,000 euros for the chairman, directors, managing directors or managers of a joint stock company to issue, on behalf of that company, negotiable bonds which, in the same issue, do not confer the same debt rights for the same nominal value.

The following is punishable by two years’ imprisonment and a fine of 9,000 euros: 1° Preventing a bondholder from taking part in a general meeting of bondholders; 2° Being granted, guaranteed or promised special advantages for voting a certain way or for not taking part in the vote, as well as the fact of granting, guaranteeing or promising these special advantages.

A fine of 6,000 euros shall be imposed on: 1° For the chairman, directors, general managers, managers, statutory auditors, members of the supervisory board or employees of the debtor company or of the company guaranteeing all or part of the debtor company’s commitments, as well as for their ascendants, descendants or spouses, to represent bondholders at their general meeting, or to agree to be the representatives of the bondholders’ group…

A fine of €4,500 shall be imposed if the chairman of the general meeting of bondholders fails to record the decisions of any general meeting of bondholders in minutes, stating the date and place of the meeting, the method of convening, the agenda, the composition of the bureau, the number of bondholders taking part in the vote and the quorum reached, the documents and reports submitted to the meeting, a…

The offences provided for in articles L. 245-9, and articles L. 245-12 and L. 245-13 are punishable by five years’ imprisonment and a fine of €18,000 when committed fraudulently with a view to depriving the bondholders or some of them of part of the rights attached to their debt security.