The effects of the reorganisation measure or the opening of winding-up proceedings on a lawsuit pending in France concerning an asset or a right of which the insurance undertaking has been divested are governed exclusively by the provisions of the Code of Civil Procedure.
The administrator or liquidator appointed by the competent authority of another Member State shall be entitled to exercise on the territory of the French Republic all the powers which he is entitled to exercise on the territory of that State. In exercising these powers, the administrator or liquidator shall comply with French law, in particular as regards the procedures for the realisation of assets or the information of employees. These…
In the event of the liquidation of a reinsurance undertaking referred to in 1° or 2° of III of Article L. 310-1-1, the commitments arising from contracts underwritten through a branch or under the freedom to provide services are performed in the same way as the commitments arising from the other reinsurance contracts of that undertaking.
The movable assets allocated to represent the mathematical provisions within the meaning of Title IV of Book III relating to insurance operations against accidents at work are allocated by lien to the payment of the corresponding annuities. This lien takes precedence over the general lien instituted in the first paragraph of article L. 327-2.
The movable assets of French companies subject to State control by virtue of article L. 310-1 are allocated by a general lien to the settlement of their commitments to policyholders and beneficiaries and to the reimbursement by preference of premiums paid by persons who have exercised their right to surrender pursuant to article L. 132-5-1. This lien ranks after 4° of article 2331 of the Civil Code. The same applies…
When the assets of an insurance undertaking are insufficient to meet its regulated commitments, or when the financial situation of the undertaking is such that the interests of policyholders and beneficiaries are likely to be compromised in the near future, the real estate forming part of the undertaking’s assets may be mortgaged at the request of the Autorité de contrôle prudentiel et de résolution. If the company’s authorisation is withdrawn,…
For undertakings carrying out the operations referred to in 1° and the last paragraph of Article L. 310-1, the claim guaranteed by the legal lien or mortgage is set at the amount of the premiums to be reimbursed by preference in the event of surrender of the contract and the mathematical provision referred to in Article L. 343-1 and reduced, where applicable, by policy loans, including interest, and increased, where…
Where a French company has set up guarantees in a foreign country for the benefit of creditors whose rights derive from insurance contracts performed in that country, the preferential right instituted in the first paragraph of article L. 327-2 may not have the effect of placing these creditors in a more favourable situation than that of creditors whose rights derive from contracts performed on the territory of the French Republic.
Failure to comply with the disqualifications set out in article L. 322-2 is punishable by three years’ imprisonment and a fine of 375,000 euros.
Any person who has been convicted pursuant to article L. 328-1 may not be employed in any capacity whatsoever in the company in which he held executive or management functions, or of which he was a member of the board of directors or supervisory board, or of which he was a signatory, nor in the subsidiaries of this company which are subject to State control pursuant to article L. 310-1….
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
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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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