Corporate law

Paris Court of Economic Affairs (Tribunal des affaires économiques de Paris): entry into force of a new protocol for disputes on the merits

On 19 December 2024, the Bar, the Clerk's Office (greffe) and the Paris Commercial Court signed a new protocol relating to the introduction and scheduling of disputes on the merits, with the aim of reducing the average time taken to process these cases.

The protocol concerns the settlement of disputes on the merits (and not summary proceedings, claims and injunctions to pay) and will apply to new cases filed after its implementation, which is scheduled to take place in stages from 1 January 2025. Firstly, it aims to improve the organisation of the filing of cases by introducing a procedure for the scheduling of dates. As soon as this function is operational on the ‘digital court’, the date will be scheduled on the commercial court platform.

The case will then be placed at the clerk's office by electronic transmission (Word or PDF text format) or, if this is not possible, by filing the copy of the summons with the reservation number at the clerk's office.

The protocol also changes the way in which cases are instructed, where representation by a lawyer is mandatory, based on the provisions of articles 446-1 to 446-4 of the French Code of Civil Procedure. As soon as the case is introduced, the parties will be proposed an amicable way of resolving the dispute. In the absence of conciliation, the court will exempt the parties from attending subsequent pre-trial hearings and, after obtaining the opinion of the parties, it will set a calendar for exchanges depending on the complexity of the case. Subject to certain exceptions, the exchanges will have to take place electronically.

Corporate law

New provisions on amicable liquidation proceedings and transfer of company assets (TUP)

Amicable liquidation and universal transfer of assets (TUP) procedures are sometimes misused by fraudulent companies facing tax and social security reassessments, which they seek to elude.

To prevent such misuse, the decree of 7^th July 2024 makes it compulsory to publish the dissolution giving rise to a TUP procedure in the “Bulletin officiel des annonces civiles et commerciales” (BODACC) and to produce certificates of social security and tax compliance when closing the amicable liquidation procedure.

As a result, article 8 of decree no. 78-704 is amended to make it compulsory to publish the dissolution giving rise to a TUP procedure only in the BODACC and no longer in a legal gazette, in order to enhance the publicity given to the procedure and the information provided to creditors.

The text also amends article 10 of the same decree and article R. 237-7 of the French Commercial Code (for commercial companies) to make it compulsory to produce a certificate of social regularity and a tax certificate attesting that the accounts are fully updated when the amicable liquidation is closed, as part of this procedure, which takes place without the intervention of a judge. Although the company must not have any debts and must have enough assets to pay all its liabilities, there is no obligation to certify that, a situation that the decree seeks to correct with this new obligation.

These provisions will come into force on 1^st October 2024.

Corporate law

Conditions under which former members of a civil company (société civile) are held liable for the company's debts.

In a recent decision, the French Supreme Court (Cour de cassation) ruled that shareholders in a civil partnership who have transferred their shares may be held liable for the company's debts that became due and payable before the date of the transfer, without any need to justify unsuccessful legal proceedings against the company prior to that date.

Corporate law

General Meeting of a Société Anonyme: the failure to establish a quorum is not equivalent to a lack of quorum

The Extraordinary General Meeting of a Société Anonyme is deemed valid only if the shareholders present or represented hold at least one-quarter of the shares with voting rights on first call and one-fifth on second call (French Commercial Code, art. L. 225-96, para. 2). Resolutions adopted in breach of this rule are null and void (French Commercial Code, art. L. 225-96, para. 1).

The shareholders of a Société Anonyme requested the nullity of an Extraordinary General Meeting, arguing that the meeting officers had failed to ensure that a quorum was met.

Their claim has been rejected: only the adoption of resolutions by the Extraordinary General Meeting without respecting the quorum can lead to nullity; however, the plaintiffs did not argue that the quorum had not been met, but only that the officers of the meeting had failed to ascertain its presence.  

Corporate law

Alternative arbitration clause and attribution of jurisdiction: the court may be seized

In a recent decision, the Paris Court of Appeal stated that, in the event of an alternative clause providing for recourse to arbitration to settle disputes arising from the contract, while reserving the parties the option of submitting their dispute to the national court in the event of disagreement, the court may be seized to establish the existence of such disagreement.

Corporate law

Commercial agents unable to continue working for health reasons are entitled to indemnification

The In a recent decision, the French Supreme Court (Cour de cassation) ruled that in the event that a commercial agent terminates his contract for health reasons, he retains his entitlement to the contract termination indemnity, even if he is not completely unable to carry out any activity, as long as he can no longer reasonably pursue his activity as an agent.

Tax

Research tax credit (“crédit d'impôt recherche - CIR”): sub-contracted expenses can only be taken into account if they have been paid during the financial year

According to the Toulouse Administrative Court of Appeal, sub-contracted expenses can only be taken into account in calculating the research tax credit (“crédit d'impôt recherche – CIR”) in respect of a given financial year if they are actually paid in that same year.

Tax

Denial of tax exemption to non-residents is subject to the contradictory procedure

When non-resident contributors claim an exemption on the basis of a bilateral tax treaty in a letter attached to their wealth tax (“Impôt de Solidarité sur la Fortune – ISF”) declaration, the contradictory rectification procedure must be implemented (French Supreme Court 18-9-2024 no. 23-10.515 F-D).

Employment law

The duration of fixed-term contracts, even if discontinuous, is deducted from the trial period provided for in any permanent contract subsequently entered into.

In a recent decision, the French Supreme Court (Cour de cassation) has reiterated the conditions for the implementation of the trial period in the event of a succession of previous contracts, confirming its case law in this matter.

In particular, on expiry of one or more fixed-term employment contracts (CDD), the employee may be hired, without any delay, on a permanent contract (CDI) by the company in which he or she was working. In this case, the duration of the fixed-term contract(s) has to be deducted from any trial period provided for in the new employment contract (French Labor Code, art. L 1243-11, para. 3), even if the various contracts are separated by short periods of interruption. The deduction of the duration of previous fixed-term contracts from the trial period of the new contract is even more applicable in the event of new recruitment on a fixed-term contract following immediately successive fixed-term contracts. However, except in cases of fraud, the employer does not have to reduce the trial period if the new contract is for a different position requiring the employee to have different qualifications and skills.

Employment law

A recording made without the employer's awareness can be used to prove a work-related accident

The plenary session of the French Supreme Court (Cour de cassation) recently ruled that, in civil proceedings, the unlawfulness of obtaining or producing evidence does not necessarily mean that it should be excluded from the proceedings. The court must, when requested to do so, assess whether such evidence undermines the fairness of the proceedings as a whole, by balancing the right to evidence against the conflicting rights involved. The right to evidence may justify the production of evidence that undermines other rights, provided that such production is essential to the exercise of that right and that the violation is strictly proportionate to the aim pursued.

In a judgment of 6 June 2024, the Second Civil Chamber of the French Supreme Court applied this solution for the first time to disputes concerning work-related accidents. It approved the Court of Appeal's (Cour d’appel) ruling that an employee could produce an audio recording made without the knowledge of the director of the company with whom he had had an altercation, in order to obtain recognition both of the work-related nature of the accident resulting from this altercation and of the employer's inexcusable fault, after observing that the court had carefully balanced the director's right to respect for his private life and the victim's right to evidence.

Employment law

Repeated sexist comments by an employee are culpable and justify dismissal

An employee who repeatedly insults colleagues using mildly sexist language is guilty of misconduct justifying dismissal, regardless of the employer's past tolerance.

Employment law

No compensation for notice for an employee who refuses a change in working conditions

An employee who refuses a simple change in working conditions may be dismissed for misconduct. In this case, the employer may require that the notice period, if any, be performed under the new working conditions. An employee who refuses loses all entitlement to compensation for notice (French Supreme Court, Labour Division, 23-10-2024 no. 22-22.917 F-D, Association Essor c/ E).

Real estate law

Consequences of an ancient promise to sell: revocation and invalidity of the price

It is impossible for the promisor to withdraw from the unilateral undertaking to sell unless otherwise stipulated in the contract. Whether the price is too low is determined at the date of the unilateral undertaking to sell and not, as in matters of lesion, at the date of exercise of the option.

Real estate law

The seller's right to occupancy compensation is not conditional on absence of fault on his part

While the seller's bad faith does not deprive him of his right to restitution in respect of the occupation of the property sold after the invalidation of the sale, a purchaser acting in good faith only has to pay this value from the date of the claim (French Supreme Court 3^rd Civil Division 5-12-2024 no. 23-16.270 FS-B).

Real estate law

Legal standing for a non-professional creditor in a compulsory sale of the principal residence of a debtor in compulsory liquidation

A creditor with a charge over real property, to whom the declaration of unseizability of a property belonging to a debtor in compulsory liquidation cannot be set up against, may proceed with its sale on seizure. The non-professional creditor's right to bring an action is recognised because it is not an action to order the debtor to pay a sum of money prohibited by article L. 622-21 of the French Commercial Code (French Supreme Court, Commercial Division, 20 November 2024, F-B, no. 23-19.924).

Conseguenze e rimedi per le aziende italiane ed europee

13 Gennaio 2025 - A cura dello studio legale Melchionna PLLC, New York

Esiste un rischio concreto per le aziende italiane ed europee che esportano beni e servizi negli USA, a partire dal 20 gennaio 2025, con l’insediamento della nuova amministrazione Trump? Facciamo riferimento a quelle imprese che operano in molteplici settori tra cui: materie prime, manifattura, fashion, food, beverage e alcohol, meccanica e componentistica, chimico, solo per citarne alcuni.

Lo scenario

Durante la campagna elettorale, Trump ha affermato di voler prendere di mira Cina ed Europa e adottare le stesse misure già prese durante la sua prima amministrazione, cioè quando acciaio ed alluminio, ad esempio, furono colpiti rispettivamente da tariffe del 25% e del 10%. Questa volta però Trump ha promesso tariffe protezionistiche generalizzate tra il 10% ed il 20%. Da notare che l’Europa è già stata minacciata di nuove tariffe se si rifiuterà di importare i prodotti energetici dagli USA (carbone, petrolio e gas). Trump ha anche dichiarato di voler introdurre il 100% di tariffe contro il blocco dei “BRIC” (Brasile, India, Cina, Sud Africa , Egitto, Etiopia, Iran e UAE), se lo stesso deciderà di adottare una moneta concorrente al dollaro.

1. Le previsioni economiche in caso di nuove tariffe per l’Europa sono negative

Preliminarmente, gli effetti di nuove tariffe sui beni e servizi importati negli USA avranno l’effetto di renderli più costosi per i consumatori americani (aspetto che – come affermano numerosi osservatori - nel lungo termine danneggerà Trump politicamente), favorendo un aumento dell’inflazione.

Circa l’economia europea, le previsioni mostrano che le tariffe contribuiranno ad affliggere un’economia già stagnante. Alcuni economisti di Citi Bank osservano che nuove tariffe indistinte del 10% saranno in grado di ridurre il GDP dell’area europea dello 0.3% nell’arco di due anni. Il valore delle società europee potrebbe quindi ridursi di un 1% o 2% ad azione. Gli investitori, istituzionali e non, hanno già dato segni di voler disinvestire dall’area europea e dai settori produttivi che con maggiore probabilità verranno colpiti dalle tariffe e questo implicherà un’ulteriore rarefazione del credito. Le occasionali esenzioni tariffarie avranno certamente una giustificazione politica.

L’Istituto Economico Tedesco (IW) ha calcolato che le nuove tariffe di Trump costeranno alla Germania circa 180 miliardi di euro in quattro anni. Per il Centro Studi Prospettive Economiche Internazionali francese (CEPII), l’Italia subirà una contrazione del PIL dell’1.20%.

Fin qui gli aspetti diretti. Quelli indiretti appaiono ancor più problematici: la promessa di Trump di colpire anche i beni cinesi fino al 60% potrebbe spingere le aziende asiatiche a dirottare i beni originariamente destinati al mercato USA verso il mercato europeo, con conseguente riduzione dei prezzi per i consumatori finali europei e dei margini di molte aziende in Europa (da notare che i veicoli elettrici cinesi subiscono negli USA una tariffa del 100%).

L’ipotesi di una ritorsione è problematica ed improbabile perché’ il 25% dei beni che l’EU importa dagli USA è costituito da petrolio, carbone e gas naturale. Tali beni non verranno assoggettati ad una nuova tariffa e stesso dicasi per i prodotti farmaceutici. L’Europa potrà ricorrere ad una ritorsione commerciale contro la Cina (come ha fatto nel passato) anche se alcuni beni sono già assoggettati ad alte tariffe (i veicoli elettrici cinesi, ad esempio, entrano in Europa con una tariffa del 35.3%).

2. Quale lo scenario politico?

Premesso che nel diritto USA esistono solo tariffe (e non, come nel diritto italiano, dazi e tariffe), le dichiarazioni di Trump in tema di nuove tariffe, durante e dopo la campagna elettorale, hanno il fine, a seconda di molti osservatori, di obbligare aziende e governi stranieri a rinegoziare la propria posizione. Le tariffe, come noto, hanno un fondamento politico. Trump e il suo entourage hanno promosso le tariffe con una estesa campagna di comunicazione attraverso la stampa - tradizionale e digitale - e i social media: nel fare ciò hanno cercato di convincere i consumatori americani dei grandi benefici interni che le tariffe produrranno. Gran parte degli esperti di economia e storia economica non sembra concordare con tale previsione. Mentre per ora Trump le considera una espressione di 'protezionismo patriottico' e, soprattutto, uno strumento potente per fini geopolitici, saranno i consumatori finali coloro che decideranno sulla bontà di tale policy. Ciò che conta, per le aziende italiane che esportano i loro prodotti negli USA, è prestare attenzione alle policies di breve periodo e ricalibrare - sulla base di una chiara conoscenza delle opzioni a disposizione - le proprie operazioni commerciali per mantenere solidità e continuità.

3. Quali i presupposti legali?

L’articolo I Sezione 8 della Costituzione USA conferisce al Congresso il potere esclusivo di legiferare in tema di tariffe. Tuttavia, nel corso del tempo, il Congresso in alcune circostanze ha delegato questo potere al Presidente degli USA. Il Presidente potrebbe far ricorso alla Sezione 301 del Trade Act (1974) (come è accaduto per l’introduzione di nuove tariffe sui beni cinesi); oppure alla Sezione 232 del Trade Expansion Act (1962) (così è stato per l’importazione di acciaio ed alluminio). Il Presidente USA potrebbe utilizzare anche la Section 203 dell’International Emergency Economic Powers Act (IEEPA), che è ancora più rapida poiché’ non richiede un’investigazione da parte di agenzie federali qualora il Presidente abbia concorrentemente dichiarato uno stato di emergenza nazionale ai sensi del National Emergency Act (NEA).

Il panorama normativo diventa ancor più articolato se si fa riferimento all’insieme di disposizioni correlate a quelle tariffarie, tra cui: le disposizioni relative alle esenzioni e agli appelli; le disposizioni sanzionatorie; le azioni adottate dalla CFIUS (la commissione USA che vaglia l’ammissibilità degli investimenti stranieri negli USA); le azioni che verranno adottate per la modifica delle regole sul nearshoring; la rinegoziazione di accordi bi- o multi-laterali attualmente in essere (in special modo quelli con il Canada ed il Messico).

4. Quali le ripercussioni e le soluzioni per prepararsi al meglio?

Con molta probabilità un gran numero di aziende italiane ed europee che operano negli USA dovrà verificare se i propri prodotti e servizi saranno assoggettati alle nuove tariffe o meno e, in caso affermativo, decidere in breve tempo come rispondere. Poiché’ la nuova amministrazione Trump sceglierà i beni e servizi oggetto di nuove tariffe in maniera arbitraria ed imprevedibile, i tempi di reazione delle aziende colpite faranno la differenza in termini di competitività e successo nel mercato USA. Le aziende che predispongono oggi un piano di reazione saranno in grado di metterlo in atto e pertanto navigare con successo i prossimi quattro anni.

Esistono soluzioni diversificate, ben testate e ritagliate su misura.

Per ogni ulteriore informazione, è possibile contattare lo studio legale Melchionna PLLC di New York che assiste tradizionalmente la clientela internazionale sul mercato Nord Americano. Melchionna PLLC è affiliato a GA.

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A special mention, for our Partners who decided to participate for the production of this video:

• João Valadas Coriel - Valadas Coriel & Associados

• Dorant Ekmekçiu - Hoxha, Memi & Hoxha

• Alexander Todorov - Dimitrov, Petrov & Co

• Satinder Kapur - Satinder Kapur & Associates

• Josè Maria Allonca - Allonca Abogados

• Laurenz W. Vuchetich - BDV Legal

• Mauricio Villeda Jr. - Gufa Law

• Andrej Kirm - Kirm Perpar

• Juan Carlos Moncada - Moncada Abogados

• Diego Martín Francesconi & Javier Herraiz - Castellana 170 Abogados

• Zsofia Bitai - Bitai & Partners