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Article L228-64 of the French Commercial code

The meeting is chaired by a representative of the group. If the representatives are absent or if there is disagreement between them, the meeting shall appoint a person to act as chairman. If convened by a court-appointed agent, the meeting is chaired by the latter. Failing representatives of the general body appointed under the conditions provided for in articles L. 228-50 and L. 228-51, the first meeting is opened under…

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Article L228-65 of the French Commercial code

I.-The General Meeting shall deliberate on all measures intended to ensure the defence of the common interests of the bondholders and on any proposal to amend the contract and in particular: 1° On any proposal relating to the amendment of the purpose or form of the company; 2° On any proposal either for a compromise or for a settlement of rights in dispute or which have been the subject of…

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Article L228-68 of the French Commercial code

Meetings may neither increase the burdens on bondholders nor establish unequal treatment between bondholders of the same body. They may not decide to convert bonds into shares, subject to the provisions of article L. 228-106. Any provision to the contrary is deemed unwritten.

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Article L228-69 of the French Commercial code

Every bondholder has the right to obtain, under the conditions and within the time limits determined by decree of the Conseil d’Etat, communication of the text of the resolutions that will be proposed and the reports that will be presented to the general meeting. He has, at all times, the same right with regard to the minutes and attendance sheets of the general meetings of the body to which he…

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Article L228-71 of the French Commercial code

The debtor company shall bear the costs of convening and holding shareholders’ meetings and publicising their decisions, as well as the costs resulting from the procedure provided for in article L. 228-50. Other management expenses decided by the general meeting of the masse may be deducted from the interest paid to bondholders and their amount may be set by court order. The deductions referred to in the previous paragraph may…

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Article L228-72 of the French Commercial code

Failing approval by the general meeting of the proposals referred to in 1° and 4° of I. of article L. 228-65, the board of directors, the management board or the managers of the debtor company may override, by offering to redeem the bonds within the period set by decree in the Conseil d’Etat. The decision of the board of directors, the management board or the managers to overrule shall be…

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Article L228-73 of the French Commercial code

If the general meeting of bondholders of the company being acquired or divided has not approved, as the case may be, one of the proposals referred to in 3° and 6° of I of Article L. 228-65, the board of directors, the management board or the managers of the debtor company may overrule it. The bondholders then retain their status in the acquiring company or in the companies benefiting from…

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