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Article L613-30-2 of the French Monetary and Financial Code

November 7, 2023

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…

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Article L613-30-3 of the French Monetary and Financial Code

November 7, 2023

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…

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Article L613-31-1 of the French Monetary and Financial Code

November 7, 2023

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…

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Article L613-31-2 of the French Monetary and Financial Code

November 7, 2023

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°…

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Article L613-31-3 of the French Monetary and Financial Code

November 7, 2023

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…

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Article L613-31-4 of the French Monetary and Financial Code

November 7, 2023

The opening of compulsory liquidation proceedings against a credit institution, investment firm or finance company entails, depending on the case, the filing of an application for withdrawal of authorisation with the European Central Bank or its removal from the list of investment firms or finance companies.

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Article L613-31-5 of the French Monetary and Financial Code

November 7, 2023

By way of derogation from the provisions of Article L. 613-31-3, the effects of a reorganisation measure or winding-up proceedings defined in Article L. 613-31-2 on the contracts, rights and authorities listed below shall be determined by the following rules: 1° Employment contracts and employment relationships shall be governed exclusively by the law of the Member State applicable to that contract or relationship; 2° Contracts granting the right to use…

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Article L613-31-6 of the French Monetary and Financial Code

November 7, 2023

I. – Notwithstanding the provisions of Article L. 613-31-3, the decision to adopt a reorganisation measure or to open winding-up proceedings shall not affect : 1° The rights in rem, within the meaning of the applicable law, of a creditor or a third party in respect of tangible or intangible assets, whether movable or immovable, belonging to the credit institution, the investment firm or a person mentioned in 3° to…

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Article L613-31-7 of the French Monetary and Financial Code

November 7, 2023

By way of derogation from the provisions of Article L. 613-31-3 and II of Article L. 613-31-6, the provisions of the law of the Member State in which the winding-up proceedings have been opened relating to the nullity, voidability or unenforceability of acts detrimental to all creditors shall not apply if the beneficiary of such an act proves that the latter is subject to the law of another Member State…

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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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French Business Lawyers

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Linkedin

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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