Paris Court of Appeal, 29 May 2018, Wilkes Participacoes and Companhia Brasileira de Distribuicao SA v. Morzan Empreendimentos E Participações Ltda, no. 15/23187

Mandal, Companhia Brasileira de Distribuicao (CBD)’s wholly owned subsidiary, entered into a sales and purchase agreement (SPA) of Globex shares with Globex’s major shareholders (designated as Morzan). Morzan found that CBD did not abide by the payment terms. Consequently, Morzan initiated arbitral proceedings against CBD and its major shareholder, the brazilian company Wilkes Participações SA [...]

Paris Court of Appeal, 29 May 2018, Federal State Unitary Enterprise Russian Satellite Communications Company v. Orion Satellite Communications and Céleste Financial Holding, no. 17/16484

By a contract of 4 October 2001, Russian State Enterprise Russian Satellite Communications Company (“RSCC”) sold 20 million shares of a French company Eutelsat to Orion Satellite Communications Inc. (“Orion”). The contract contained a UNCITRAL arbitration clause. On 11 March 2002, Orion sold to Geosat 3 the rights it held in the acquisition of these shares. [...]

Cour de cassation, 24 May 2018, Mr. and Mrs. X v. Toulouse Investment Company Leroux, no. 17-18796

By an agreement, containing an arbitration clause, Mr. and Mrs. X undertook to sell to Toulouse Investment Company Leroux 100% of the shares of the Carrosserie peinture system company. A dispute arose over the execution of this agreement. The arbitral award was rendered and subsequently annulled by a court of appeal which found that the [...]

2018-06-27T20:08:25+00:00 May 24th, 2018|Cour de cassation|0 Comments

United States District Court for the Southern District of Florida, 22 May 2018, Cardno International PTY, Ltd. and Others v. Carlos Diego Fernando Jacome Merino and Others, no. 17-23964-civ-Scola

On 22 May 2018, the Florida District Court confirms an award rendered in favor of the Australian infrastructure company Cardno, except with respect to one of the four sellers who had passed away. This dispute originated in the purchase by Cardno of Caminosca SA, an Ecuadorian company. After the sale, Cardno discovered that the sellers [...]

Paris Court of Appeal, 22 May 2018, Spouses Z v. ITM Sud Ouest, no. 16/24803

A trade-name license agreement for the operation of a store was concluded between ITM and Joriane, a company controlled and managed by the Spouses Z. In 2002, ITM undertook to buy (“promesse unilatérale d’achat”) the shares of Joriane company over a period of 10 years, this unilateral commitment included an arbitration clause. A decision in [...]

Paris Court of Appeal, 4 May 2018, Aperam Stainless France v. Mutares Holding-27 AG, no. 17/23095

By a contract dated 21 March 2017, the French company Aperam Stainless France (“Aperam”) sold to Mutares Holding-27 AG (“Mutares”), a German company, the entire share capital of a company and that of its subsidiary. The price was set at one euro, but the contract included a mechanism to adjust the final price thereafter. As [...]

Cour de cassation, 11 April 2018, Honeywell matériaux de friction v. 11 employees, nos. 17-17991, 17-17992, 17-17993, 17-17994, 17-17995, 17-17996, 17-17997, 17-17.998, 17-17999, 17-18000

Two companies entered into a share purchase agreement (“SPA”) and a business transfer agreement. Only the SPA contained an arbitration clause. Some employees brought a tort claim before state courts against the seller and the buyer’s sister company by claiming compensation for the harm incurred due to the presence of asbestos and seeking the companies’ [...]

2018-06-27T22:21:39+00:00 April 11th, 2018|Cour de cassation|0 Comments

SCC, December 2017, Evrobalt and Kompozit v. Moldova

The National Bank of Moldova suspended the participation of shareholders in a local bank for not having obtained due authorisation for collective purchase of the shares. The companies, including Russian Evrobalt and Kompozit, first brought separate emergency proceedings to stop the suspension. Two emergency arbitrators came to two opposite conclusions. Later the two banks filed [...]

2018-01-20T21:03:29+00:00 December 31st, 2017|International awards, SCC|0 Comments