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Jones Day

Frédéric Gros

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Work +33 1 56 59 38 32
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Jones Day

Work Department

Banking & Finance; Projects & Infrastructure; Business Restructuring & Reorganization; Structured & Derivative Products.

Position

Frédéric Gros, Partner, advises international and French clients, primarily banking institutions, investment funds, sponsors and industrial and commercial companies in connection with structured financing and in particular project finance and private public partnership financings (PPP), debt restructuring, resolution plans, and financial litigation. He leads the Paris Office Banking & Finance Practice. He has advised Société de Financement Local (SFIL), the new banking institution dedicated to public sector financing, capitalized by the French State, la Caisse des Dépôts et Consignations and La Banque Postale in connection with the acquisition of Caisse Française de Financement Local, covered bond issuer of the new group created. He recently advised the Ecore/Guy Dauphin Environnement Group in connection with the acquisition and debt restructuring of the Recylux Group. Frédéric also advises clients in litigation arising from the financial crisis. He focuses on issues relating to the financing of French local authorities and represents banks in litigation related to structured products (so-called "toxic loans"). He advises the French Ministry of Finance on financing plans and other accompanying measures implemented by the French government relating to distressed companies such as the implementation of a government program supporting the shipping sector with the issue of financial guarantees to STX France Cruise S.A. (Saint-Nazaire Chantiers de l'Atlantique). Frédéric participated in the French inter-ministerial task force dedicated to the introduction of the trust concept in France and was a member of the French national accounting committee (CNC) in charge of regulating the accounting aspects of the French trust.

Languages

English, French.

Member

Admitted to the Paris Bar.

Education

University of Paris II, Panthéon-Assas (CAPA 1993); Jean Moulin University, Lyon III (DEA in Business Law 1988; DESS in Banking & Finance Law 1987).


France

Banking and finance: transactional work

Within: Banking and finance: transactional work

Jones Day boasts particular strength in project finance and leveraged finance, but is also adept in the fields of real estate and and restructuring finance. Tikehau Capital turned to the firm for advice on its €1.3bn bank and bond financing, consisting of a €1bn unsecured syndicated credit facility and a €300m unsecured inaugural bond issue on Euronext Paris. A recent headline-grabbing matter saw the group assist Deutsche Pfandbriefbank with the financing of the restoration of the Hôtel de l'Artillerie by La Fondation Nationale des Sciences Politiques. Other work came from the French Ministry of Finance and the Caisse Française de Développement Industriel, as well as from Permira Credit Solutions II and Pandios. Sophie Chevallier, Frédéric Gros and Diane Sénéchal jointly lead the practice, while counsel Jessica Derocque joined from De Pardieu Brocas Maffei at the end of 2017.

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EU, competition and distribution

Within: EU, competition and distribution

Eric Barbier de la Serre and counsel Eric Morgan de Rivery are the main names to note for competition and antitrust work at Jones Day. The team is currently advising Safran on all competition aspects - except EU filing - of its merger with Zodiac, and Deutsche Post DHL instructed the group to oversee its defence against an FCA action concerning an alleged exchange of information between - among others - the four largest post offices in the EU. In other highlights, Barbier de la Serre is currently collaborating with Frédéric Gros to assist SFIL with the state aid aspects of a series of complaints to the Versailles Court of Appeal claiming the client and others benefited from illegal aid from the French state; he also acted for a leading mid-market private equity fund on its acquisition of Vodafone Malta and its merger with Melita. The National Rugby League, JCB and RATP are also key clients.

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France: Dispute resolution

Dispute resolution: commercial litigation

Within: Dispute resolution: commercial litigation

Jones Day ‘is very knowledgeable about complex issues’. The ‘responsive’ practice does ‘an exceptional job of navigating complex situations to get to an optimal result’ and has ‘intimate knowledge of the industrial sector’. The team represents many leading US industrial and multinational companies, especially in the energy and oil and gas sectors, in commercial and corporate litigation. The practice is also representing several IT and technology companies in commercial disputes and manages some industrial litigation. It is acting for Micron Technology in claims for damages brought by Orange over defective telephones. Ozan Akyurek ‘is an exceptional attorney and a great partner to go through complex, long and challenging litigation’. The practice is also acting for Dexia Crédit Local, SFIL and Depfa in a high volume of "toxic loan" cases initiated by public sector entities. Frédéric Gros and of counsel Isabelle Maury are experts in banking litigation. Finally, the hiring of Elie Kleiman from Freshfields Bruckhaus Deringer LLP is a very promising move: he is the ‘ultimate trusted adviser who you can call at any time on any subject matter, and whose unique personal charisma and powers of persuasion are always geared up exclusively to serve the interests of his clients’.

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Legal Developments by:
Jones Day

  • US rules regarding offshore accounts

    The Hiring Incentives to Restore Employment Act 2010, enacted on 18 March 2010, imposes a new US withholding tax and reporting regime, known as the Foreign Account Tax Compliance Act (FATCA). The FATCA regime applies generally to payments made after 31 December 2012, except on obligations (to be defined in future guidance) outstanding on 18 March 2012. Substantial effort is required by foreign entities to bring their worldwide operations and policies into compliance with the FATCA rules as of the effective date.

    - Jones Day

Legal Developments in France

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • CHINA - PERSONAL TAXATION AND SOCIAL SECURITY : CHINESE AND FOREIGN NATIONALS ON AN EQUAL FOOTING

    The People's Republic of China has initiated an overhaul of its social security system, reformed the personal taxation regime and has extended the scope of these laws to foreigners residing in China.
  • MOROCCO TO BECOME THE LEADING FINANCIAL PLACE IN AFRICA

    The Kingdom of Morocco is supporting the ambition of becoming the leading financial place for Africa. In this context, a wave of draft laws is to be passed and implemented within the following months, amongst which, the Law No. 53.08, setting up a new financial authority, and the Law No. 54.08, reforming public offering rules, are of paramount importance to Moroccan and foreign issuers, and financial institutions.
  • ACQUISITIONS IN CHINA : ASSET OR SHARE DEAL?

    The opportunities offered to foreign investors by the Chinese mergers and acquisitions market are increasing every year: in 2010, transactions involving foreign companies came to 60.1 billion euros, an increase of 21.2% compared with 2009. Seen from the West, where markets are declining, all sectors of the Chinese economy seem to be undergoing promising development and the statistics indicate that the Middle Empire will be a lasting springboard for growth.
  • Prime de Partage des Profits

    Le dispositif L’article 1er de la loi de financement rectificative de la Sécurité sociale pour 2011 oblige les sociétés commerciales de 50 salariés et plus, dont les dividendes par part sociale ou par action sont en augmentation par rapport à la moyenne des deux années précédentes, à verser une prime à l’ensemble de leurs salariés
  • BULGARIA MARKET OVERVIEW

    Types of investors The private equity (PE) funds that are active in Bulgaria are not raised or registered in the country. Some Bulgarian PE funds were raised recently, but there are no statistics as to the sources of their funding, their number, the funds that were accumulated, etc.
  • RECENT DEVELOPMENTS REGARDING COMMITMENTS

    THE PROCEDURE IS CLARIFIED, BUT MAY COMMITMENTS APPLY WITHOUT LIMIT?
  • Landmark decision by French Competition Authority in conditioned LPG case

    cartel case closed after discovery that leniency application was largely based on forgeries and rejection of collective dominant position objection.
  • 2012 supplementary budget

    The second supplementary budget published in the Official Gazette September 19, 2011 provides for two key measures that affect the deferral of tax losses and taxation of capital gains realized on the sale of equity securities .
  • Actualité législative fiscale

    Au delà des mesures applicables à l’ensemble des contribuables (telles que la limitation du report des déficits ou la réforme du mode de calcul des plus values sur cessions de participations),le plan de réduction des déficits annoncé le 24 août dernier par le gouvernement comprend des mesures qui intéressent spécifiquement les acteurs du secteur financier.
  • Réforme fiscale

    À la une Parmi les mesures annoncées par le Premier Ministre dans le cadre du plan de réduction des déficits, deux d’entre elles sont susceptibles d’affecter de nombreuses entreprises