{"id":6345,"date":"2008-06-01T16:35:48","date_gmt":"2008-06-01T16:35:48","guid":{"rendered":"https:\/\/gregorydamy.niceavocats.fr\/?p=6345"},"modified":"2023-08-02T11:49:04","modified_gmt":"2023-08-02T11:49:04","slug":"managers-duty-of-loyalty-to-partners","status":"publish","type":"post","link":"https:\/\/gregorydamy.niceavocats.fr\/en\/managers-duty-of-loyalty-to-partners\/","title":{"rendered":"Manager’s duty of loyalty to partners"},"content":{"rendered":"

[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”4.20.2″ custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” locked=”off” global_colors_info=”{}”][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.19.5″ _module_preset=”default” background_enable_mask_style=”on” background_mask_style=”wave” background_mask_color=”rgba(0,0,0,0.08)” custom_padding=”||6px|||” locked=”off” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_circle_counter title=” Temps de lecture estim\u00e9 (en minutes)” number=”2″ percent_sign=”off” _builder_version=”4.19.5″ _module_preset=”default” title_font=”Amiri||||||||” max_width=”137px” global_colors_info=”{}”][\/et_pb_circle_counter][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||0px||false|false” custom_padding=”||0px||false|false” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][et_pb_divider _builder_version=”4.19.5″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][\/et_pb_column][\/et_pb_row][et_pb_row admin_label=”row” _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_image _builder_version=”4.21.0″ _module_preset=”default” title_text=”people-1979261_1280-2″ src=”https:\/\/gregorydamy.niceavocats.fr\/wp-content\/uploads\/2023\/07\/people-1979261_1280-2.jpg” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_image][et_pb_text admin_label=”Text” _builder_version=”4.21.0″ text_font=”Amiri||||||||” header_2_font=”Amiri||||||||” header_3_font=”Amiri||||||||” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

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The transferee is not required to inform the transferor either of negotiations aimed at the acquisition by a third party of other securities of the same company or of those which he conducts himself with this third party with a view to transferring or providing him with the securities that are the subject of the transfer.<\/span><\/span><\/p>\n

However, the obligation of loyalty which is imposed on the company director with regard to any partner prohibits him from concealing from the sellers any information likely to influence their consent.<\/span><\/p>\n

A nuance is provided by the Commercial Chamber of the Court of Cassation in 2016 (1).\u00a0The said Court concludes that the manager’s lack of loyalty cannot be considered insofar as the assigning partner, due to his position within the company, is in the capacity to know information likely to influence his consent.<\/span><\/p>\n

Jurisprudence will subsequently recall the very importance of the manager’s duty of loyalty to his associates (2).<\/span><\/p>\n

 <\/p>\n

1. Court of Cassation, Civil, Commercial Chamber, December 13, 2016:\u00a0<\/span>https:\/\/www.legifrance.gouv.fr\/juri\/id\/JURITEXT000033634637\/<\/span><\/a><\/p>\n

2. Court of Cassation, Civil, Commercial Chamber, July 10, 2018:\u00a0https:\/\/www.legifrance.gouv.fr\/juri\/id\/JURITEXT000037384233\/<\/a><\/span>\u00a0<\/p>\n

 <\/p>\n

Download<\/span><\/a>the article<\/span><\/a>\u00a0published in \u201cLegal Week\u201d in pdf format\u00a0\u00a0:\u00a0<\/span>http:\/\/gregorydamy.niceavocats.fr\/images\/articles\/semainejuridique_societescommerciales.pdf<\/span><\/a><\/p>\n<\/div>\n

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The transferee is not required to inform the transferor either of negotiations aimed at the acquisition by a third party of other securities of the same company or of those which he conducts himself with this third party with a view to transferring or providing him with the securities that are the subject of the […]<\/p>\n","protected":false},"author":2,"featured_media":35778,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[295],"tags":[],"class_list":["post-6345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-and-company-law"],"yoast_head":"\nManager's duty of loyalty to partners - Soci\u00e9t\u00e9 d'avocats Damy<\/title>\n<meta name=\"description\" content=\"Manager's duty of loyalty to partners The transferee is not required to inform the transferor either of negotiations aimed at the acquisition\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gregorydamy.niceavocats.fr\/en\/managers-duty-of-loyalty-to-partners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Manager's duty of loyalty to partners - 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