Originally adopted to facilitate the handing over of SMEs, the French law known as the “ESS Law” dated July 31st, 2014 introduces new provisions which complicate the transfer of going concerns and shares.
To this end, in the event of a contemplated transfer of a going concern or share transfer, the Law provides namely for an obligation of prior information of the relevant employees in order to enable them to bid if they wish to.
This information, which comes as an addition to the information and consultation process of the employee’s representative bodies, is important as the applicable sanction is nullity of the transfer.
This Law, which will apply to transactions entered into as of November 3rd, 2014, already raises many issues regarding both corporate and employment law.
During our breakfast, the teams of the Corporate and Employment departments of Bird & Bird will present these various topics which constitute new challenges for SMEs:
- The scope of the “ESS Law”: which companies are concerned? what type of transactions (total or partial transfer of going concern? Direct or indirect share transfer?) ?
- Information of employees: under which conditions? how does it work out with the information and consultation process of the employees’ representative bodies and how does it affect the timetable of the transaction?
- The sanction - nullity of the transfer: within what time period? at whose initiative? before which judge?
Thereafter, they will answer any question from participants arising from these new provisions.
Welcoming of participants: 8:15 to 8:45
Conference and discussions: 8:45 - 10 am
The discussion will be moderated by:
Anne-Cecile Hansson Lecoanet, Partner, Corporate Department
Alexandra Stocki, Partner, Employment Department
Would you like to attend?