French Commercial Code
Subscribe to French Commercial Code's Posts

Annual European Competition Review 2019

McDermott's Annual European Competition Review summarizes key developments in European competition rules. During the previous year, several new regulations, notices and guidelines were issued by the European Commission. There were also many interesting cases decided by the General Court and the Court of Justice of the European Union. All these new rules and judicial decisions may be relevant for your company and your day-to-day practice. In our super-connected age, we can be inundated by information from numerous sources and it is difficult to select what is really relevant to one’s business. The purpose of this review is to help general counsel and their teams to be aware of the essential updates. This review was prepared by the Firm’s European Competition Team in Brussels and Paris. Throughout 2019 they have monitored legal developments and drafted the summary reports. Access the full report.

Continue Reading

Three Things To Know About French Merger Control

Jurisdictional thresholds French merger control applies if the turnovers of the parties to a transaction (usually the acquirer(s) including its (their) group(s) of companies, and the target) exceeded, in the last financial year, certain (cumulative) thresholds provided in Article L. 430-2, I of the French Commercial Code (the “Code”): Combined worldwide pre-tax turnover of all concerned parties > €150 million; and French turnover achieved by at least two parties individually > €50 million euros; and The transaction is not caught by the EU Merger Regulation. Specific (and lower) thresholds exist for mergers in the retail sector or in French overseas departments or communities[1]. In the situation of an acquisition of joint control, a transaction can be notifiable where each of the acquirers meets the thresholds even if the target has no presence or turnover in France. There is no exception applicable to foreign-to-foreign transactions. Acquisitions of...

Continue Reading

Implementation of the European Union Directive on Antitrust Damages Actions into French Law

On 10 March 2017, France finally implemented into French law the EU Directive 2014/104 of 26 November 2014 on antitrust damages actions. The implementation provisions faithfully transpose the Directive, but some concepts still, however, need to be clarified by courts at the EU and French levels. Read the full article.

Continue Reading

French Competition Authority Imposes Its First Ever Fine for Gun-Jumping

For the first time ever, on 8 November 2016 the French Competition Authority (FCA) sanctioned companies for implementing a transaction that had been notified to the FCA but not yet received a clearance decision, behaviour commonly known as “gun-jumping”. The FCA has imposed a hefty fine of €80 million on Altice Luxembourg and SFR Group jointly and severally for implementing two proposed acquisitions in the telecommunications industry before obtaining the FCA’s clearance. The FCA has previously imposed fines on companies for failing to notify a concentration, but never for gun-jumping, and the fines imposed up till now were relatively low. The high profiles enjoyed by the sanctioned companies, the very large amount of the fine, and the fact that there are only few previous gun-jumping cases in the world, all contribute to making the FCA’s decision in this case historic. Background In France, companies notifying a concentration to the FCA are required to wait...

Continue Reading

STAY CONNECTED

TOPICS

ARCHIVES