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The Court of Cassation recently held that a parent company cannot be held liable for failing to provide a subsidiary with equity commensurate to cope with transferred liabilities in a spin-off, with a few narrow exceptions. The decision provides a framework for a parent company approaching a spin-off, as the court held that the parent will not be held responsible for an unforeseen increase in liabilities unless a specific threshold is reached.
Media & Entertainment
The Nanterre Criminal High Court recently held that the second part of Article L335-2-1 of the IP Code, which prohibits the act of encouraging the public to use software that allows access to works without the authors' permission, should be interpreted broadly to apply to editors of magazines and newspapers. The decision marks the first time that a media organisation has been sentenced for encouraging readers to use illegal downloading software.
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