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Decision of the Cour de Cassation on the right of partition

14/10/2008

The Commercial Division of the Cour de Cassation has tried that the capital reduction of a company couldn't be analysed as a partition of assets since, according to section 1844-9 of Civil Code, the partition may arise only after the closing of the company's winding up, i.e. when the body corporate has disappeared.

Consequently and considering applicable regulations, companies which have operated since January 1st 2006 a capital reduction during the corporate life may file a claim for return of the right of partition unlawfully paid to the relevant Revenue collector.

This claim should be filed at the latest on 31 December 2008 for duties paid off in 2006.

For further information, please contact :
CMS Bureau Francis Lefebvre
Florence Jouffroy / Tel: +33 1 47 38 40 32
Laetitia Mostowski / Tel: +33 1 47 38 40 74