Shearman & Sterling LLP (JD Supra France)

Due to market volatility and regulatory constraints, recent secondary equity transactions carried out in the European market have mainly been accelerated private placements with institutional investors of new shares, convertible bonds or block trades, without prospectus.

Starting in mid-March 2020, almost all domestic and international football (or soccer, for United States readers) competitions across the world were suspended or postponed, due to the global spread of the COVID-19 pandemic and the measures taken by governments to combat it. In Europe, football activity continued only in Belarus, where it notably did so with fans still being able to attend in...

We provide below an update of our previous alerts regarding the holding of general meetings of public limited companies (sociétés anonymes).

In light of the growing pandemic of COVID-19, the French government has made a number of unprecedented decisions in order to support business activities. Among an extensive panoply of measures relating to short-time work, tax relief, capital markets and other areas, the French Government has introduced a EUR 300 billion State guarantee scheme (the “Scheme”) for new money loans to be granted to...

For sports professionals and fans (whether in the stands or in front of their TVs), springtime usually means the return of several major sporting events, such as the NBA’s regular season, the Formula 1 world championship, the UEFA Champions League and Europa League knockout phase, the Six Nations rugby tournament, classic cycling races like “Milan-San Remo” or clay court tennis tournaments in...

Governments around the world will adopt profound and unprecedented measures to tackle the COVID-19 pandemic crisis and keep their economies afloat. The measures will affect investments in many ways, both positive and negative. Some interventions will be protectionist—they will seek to support or benefit domestic enterprises (strategic or otherwise) but not foreign investors.

In light of the growing pandemic of COVID-19, the French government has made a number of unprecedented decisions in order to support business activities. Among an extensive panoply of measures relating to short time work, tax relief, capital markets and other areas, the French Government has introduced a EUR 300 billion State guarantee scheme (the “Scheme”) for new money loans to be granted to...

In the context of the rapid spread of the novel coronavirus (“COVID-19”), French President Emmanuel Macron announced on 16 March 2020 a 15-day confinement of the population effective as of noon the following day. It is widely expected that the confinement will be further extended. At the same time, the French court system has enacted continuity-of-operations plans (“plans de continuation d’acti

The health crisis and the restrictions and containment measures also have an impact on French securities and corporate law. We offer below an update of our previous alert regarding the holding of general meetings of public limited companies (sociétés anonymes), the ban on taking or increasing of net short positions, profit warnings and risk factors.

The French government has set out a package of social and economic measures to support businesses and employees through the period of disruption caused by COVID-19. The purpose of this memo is to provide you with an overview of the key measures relating to employment.

On March 12, 2020, we set out a note considering how force majeure provisions in commercial contracts and the related common law doctrine of frustration may be engaged in the context of the COVID-19 pandemic. This analysis focused on contracts governed by English law and PRC law. We also suggested steps that parties may take to safeguard their positions given the evolving situation.

Following a breakdown of negotiations between Saudi Arabia and Russia, on March 8, 2020, oil prices experienced the largest one-day price drop since the 1991 Gulf War, falling to $30 a barrel. This occurred in the context of a sharp fall in demand for oil and petroleum products caused by the COVID-19 pandemic.

The health crisis caused by COVID-19 and the restrictions and containment measures implemented to contain it have an impact on French securities and corporate laws. Below is a brief overview of this impact on profit warnings, risk factors, shareholders’ meetings and the ban on net short positions.

The new international divisions of the Paris Commercial Court and the Paris Court of Appeal, also known as the “International Chambers,” will start operating imminently. Under highly innovative rules of procedure (the “Protocoles”), parties appearing before those Chambers are given unprecedented flexibility. Shearman & Sterling proposes an unofficial English translation of each the two Protocoles.