Élisa Artu, Associate
Elisa Artu, our attorney specializing in corporate law and bankruptcy proceedings/𝘳𝘦𝘴𝘵𝘳𝘶𝘤𝘵𝘶𝘳𝘪𝘯𝘨, provides an update on the latest developments in case law regarding insolvency proceedings and corporate law (2024 – February 2025)
In Collectives proceedings, the Court of Cassation reinforced the principle of absolute confidentiality in preventive proceedings, even with respect to creditors notsummoned to the conciliation proceedings but informed by the debtor itself of the existence of the proceedings.
It examined the status of a de facto bank executive in the context of leveraged buyouts.
It held that the absence of accounting records or incomplete accounting records did not, in and of itself, automatically constitute gross negligence and therefore did not warrant a liability sanction for insufficient assets.
In Corporate law, the plenary session of the Court of Cassation ruled: within an SAS, a decision by the shareholders to increase the capital may be adopted only if it receives a majority of the votes cast. The articles of incorporation of an SAS therefore cannot provide for any exception to this principle.
The Commercial Chamber upheld the validity of the use of scanned signatures; however, these cannot be considered equivalent to an electronic signature and therefore do not benefit from the presumption associated with it.
The Labor Chamber revisited the issue of the admissibility of a proxy mandate in a simplified joint-stock company (SAS).