FRANCE MAKES U-TURN ON CORPORATE SUCCESSOR CRIMINAL LIABILITY

On 27 November, Deveboise & Plimpton published an article saying that the French Court of Cassation issued a landmark decision whereby public limited liability companies may now be held criminally liable for the prior criminal conduct of the companies they acquire through mergers.  The decision ruling covers so-called “merger by acquisitions”.  The article says that corporations contemplating “merger by acquisition” deals should now factor this additional risk of criminal sanctions when performing their due diligence and negotiating disclosure and warranties clauses.

https://www.debevoise.com/insights/publications/2020/11/france-makes-u-turn-on-corporate-successor

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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