A law has been passed in France to encourage French employee buy-outs of small and medium-sized companies (SMEs). In companies with fewer than 250 employees, an owner will be required to inform French employees of an intent to sell the business or a majority share of the business no later than two months before the sale. Failure to comply with this new obligation may result in the sale being nullified.
New Information Rights for French Employees of SMEs that May Be Sold
By McDermott Will & Emery and Jilali Maazouz on November 13, 2014
Posted In Employment
McDermott Will & Emery
Jilali MaazouzJilali Maazouz advises US, European, Asian, Canadian, Middle Eastern and North African multinational corporations on the labor and employment aspects of their French and transactional commercial and corporate transactions, as well as on their restructuring plans, reductions in force, separation agreements, workplace policies, due diligence investigations, audits, top executives' compensation and benefits packages and mobility, and employment contracts engineering. Jilali also focuses his practice on commercial disputes and international trade matters. Jilali represents clients in negotiations, alternative-dispute resolution proceedings and litigation, in a range of civil, commercial, criminal and administrative matters. Read Jilali Maazouz's full bio.
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