Type: Articles Published
In its 2014 insolvency reforms, the French Government contemplated allowing a French Commercial Court, faced with a company under judicial reorganisation, to remove that company’s shareholders. In the end, the Government did not include such proposal in the 2014 legislation for fear that the French Constitutional Court would rule that such a mechanism is unconstitutional due to the fact that it would be viewed as an unjustified attack on property rights. However, subject to necessary amendments, the proposal has now been put back on the agenda for 2015.
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