New team publication

Sociétés par actions simplifiées – Adoption de décisions collectives dans les SAS : vers une minorité statutaire décisionnaire ?

Note under Cour d’appel de Paris –  pôle 5 – Ch. 8, 4 April 2023, n°22/05320

In a ruling dated 4 April 2023, the Paris Court of Appeal has decided to stand up to the French Supreme Court (Cour de cassation) on an issue concerning French simplified joint stock companies (SAS). In this case, the Court of Appeal has ruled that it was possible to adopt collective decisions based not on a majority rule, but on a threshold condition defined in the articles of association. This extremely nuanced and interesting decision could cause some practical difficulties in the future.

Read the article by Pierre-Alain Marquet and Pauline Lethenet in the January 2024 release of Revue des Sociétés (Dalloz).