Twitter Logo Youtube Circle Icon LinkedIn Icon

Publishing firms

Legal Developments worldwide

Contesting of delegations of authority in sociétés par actions simplifiées

May 2010 - Corporate & Commercial. Legal Developments by Bersay & Associés .

More articles by this firm.

Several recent Court of Appeal rulings (in particular, CA Versailles, 14th div., June 25, 2008, CA Versailles 5th div., Sept. 24, 2009 and CA Paris, 2nd div., Dec. 3, 2009 and Dec. 10, 2009) dealing with the validity of delegations of authority within a simplified joint stock company (société par actions simplifiée or “SAS”) have held that a delegation of authority within an SAS, to the benefit of a General Manager (Directeur Général), Assistant General Manager (Directeur Général Délégué), or any other person – whether a third party or not – is only enforceable against third parties to the SAS if and when (i) the by-laws expressly provide for such a delegation of authority and are on file with the competent registry, and (ii) such delegation of authority is mentioned on the company’s short-form certificate of incorporation (K-bis form).

Read more...

For more information please visit www.bersay-associes.com