Characterises a concealment, of

This decision provides important insight into your property law. Here is what it changes for you.

The situation

Characterises a concealment, of a nature to cause the limitation period to run from a date later than that of the presentation of the accounts, the Court of Appeal which, with regard to misuse of corporate assets committed to the detriment of a mixed-economy company and resulting from payments of funds made pursuant to regulated agreements entered into with various companies, states, on the one hand, that one of these agreements was only presented to the shareholders three years later in the special report of the statutory auditor, that another was not subject to any deliberation of the board of directors, and that, for those which, devoid of any fraudulent character in themselves, had been referred to in the special reports of the statutory auditors, only the cross-referencing and analysis of the invoices issued under their cover, carried out subsequently in an audit report, made it possible to discover their fraudulent use, and, on the other hand, that the legal information obligations of the local authority shareholder regarding the company's accounts and activities were not satisfied. Such concealment is likewise characterised by the Court of Appeal which states, with regard to misuse of corporate assets resulting from the payment of personal expenses by means of company funds, that their criminal nature was concealed by the mention on restaurant receipts of the names of persons who did not take part in the meals..

What the law says

This decision confirms the fundamental principles of property law.

Key points to remember

• Strictly comply with the statutory time limits for appeals
• Keep all your supporting documents (title deeds, deeds, letters)
• Be proactive: preventive advice always costs less than litigation

For an analysis of your situation: 30-minute consultation at €45 with Maître Zakine.