The Micula case: payment of damages in execution of an arbitration award does constitute State aid
The judgment of the Court of the European Union (“TEU”) of 2 October 2024 in the Micula case concerns the compatibility with EU law of compensation awarded following an arbitration award against Romania. The dispute stems from Romania’s repeal in 2005 of a tax incentive scheme for investors in certain disadvantaged regions. Several companies in […]
The necessity of directing claims against the absorbing company, intervening in proceedings initially involving the absorbed company
In a ruling handed down on September 18, 2024, the French Supreme Court reiterated that, while the intervention of the absorbing company in the course of proceedings, in the event of a merger-absorption, makes it possible to set aside the plea of inadmissibility based on the disappearance of the absorbed company, it does not exonerate […]
Fraudulent concealment always excuses the error it has caused
In a ruling handed down on September 18, 2024, the French Supreme Court ruled that the seller’s fraudulent concealment of the target company’s financial situation always constitutes an excuse for the transferee’s error in failing to obtain sufficient information on the company’s financial situation. In the case at hand, after acquiring the entire capital of […]
The Paris Court of Appeal clarifies the limits of the assignee’s rights in the event of an action to set aside an arbitral award or an appeal against an exequatur order
A noteworthy ruling by the Paris Court of Appeal on September 10, 2024 clarifies the scope of an transfer with regard to the assignee’s rights to request the annulment of an award or to appeal against the exequatur order. The facts were as follows. In the case at hand, following the termination of a concession […]
The Arbitral tribunal’s refusal to order production of documents does not in itself justify setting aside an award
In a ruling handed down on September 18, 2024, the French Supreme Court continues to build on its jurisprudence on the control of infringement of international public policy and the right of defense in arbitration proceedings. A dispute arose between the Italian company Green Network SPA and the Swiss energy market leader Alpiq, concerning the […]
Le refus du tribunal arbitral d’ordonner la production de pièces ne justifie pas, en soi, l’annulation d’une sentence
Par un arrêt du 18 septembre 2024, la Cour de cassation poursuit sa construction jurisprudentielle sur le contrôle de la méconnaissance de l’ordre public international et le droit de la défense en matière arbitrale. Un litige opposait la société italienne Green Network SPA et la société Alpiq, leader sur le marché de l’énergie en Suisse, […]
The plea of inadmissibility based on the failure to implement the conciliation clause prior to any proceedings in various legal proceedings
In a ruling handed down on September 12, 2024, the French Supreme Court ruled on the question of the application of a prior conciliation clause in the event of different legal proceedings being brought (in summary proceedings and then on the merits). In the case at hand, the dispute concerned the deed of sale of […]