AyacheSalama updates

Coexistence of contractual and statutory warranties in M&A deals
AyacheSalama
  • Corporate Finance/M&A
  • France
  • 03 June 2015

The Supreme Court recently confirmed that seller's warranties granted under a securities sale and purchase agreement do not deprive a purchaser of the right to seek remedy pursuant to statutory warranties. This decision confirms earlier rulings and its publication affirms the coexistence in security transfers of contractual and statutory warranties.

New rules to determine transfer price of securities
AyacheSalama
  • Corporate Finance/M&A
  • France
  • 04 March 2015

The French M&A community has welcomed the publication of an order significantly amending Article 1843(4) of the Civil Code relating to the determination of the transfer price of securities by an independent expert in case of disagreement between the seller and the buyer. However, some uncertainties still remain and will need to be clarified by case law.

New obligations for SMEs to inform employees before share sales and business transfers
AyacheSalama
  • Corporate Finance/M&A
  • France
  • 17 December 2014

The Hamon Law has introduced a new obligation for small and medium-sized companies to provide information to employees in case of a contemplated sale of shares or of an ongoing business. The law aims to promote and encourage the acquisition of businesses by their employees, in order to avoid the failure of healthy businesses due to the lack of a buyer.

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