Where a conventional loan is usurious, excessive collections under articles L. 314-1 to L. 314-9 are automatically deducted from the normal interest due at the time and, subsidiarily, from the principal of the claim. If the claim is extinguished in principal and interest, the sums unduly collected are refunded with statutory interest from the day they were paid.
In the event of failure to mention or incorrect mention of the overall effective rate provided for in article L. 314-5, the lender may be deprived of the right to interest in the proportion set by the judge, with particular regard to the harm caused to the borrower. When the lender is deprived of the right to interest under the conditions set out in the previous paragraph, the borrower is…
Failure to comply with the provisions of article L. 314-5 is punishable by a fine of 150,000 euros. As additional penalties, guilty natural persons are also liable to a ban, in accordance with the terms set out in the Article 131-27 of the Criminal Code, to hold a public office or to engage in the professional or social activity in the exercise or on the occasion of the exercise of…
Granting a usurious loan to another person or assisting, in any capacity or in any way whatsoever, directly or indirectly, in obtaining or granting a usurious loan or a loan that would become usurious within the meaning of Article L. 314-6 is punishable by two years’ imprisonment and a fine of 300,000 euros. In the event of a conviction, the court may also order: 1° The publication of its decision…
As regards the offence referred to in Article L. 341-50, the statute of limitations for public action runs from the date of the last collection of either interest or capital.
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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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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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