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Media type:
E-Book
Title:
La Responsabilidad Bancaria Derivada De Las Operaciones De Crédito En El Derecho Francés (Bankers' Liability for Lending Activities Under French Law)
Footnote:
In: Revista de Derecho Privado, No. 20, pp. 437-454, 2011
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2011 erstellt
Description:
Resorting to bank loans is necessary for the creation and smooth running of businesses, especially for the small or medium-sized enterprises. The dependency of companies upon banks is strengthened when companies are forced into bankruptcy. In France, judge-made criteria for responsible lending developed over time. According to it, banks were declared liable in the following cases: a) when rejecting a credit application, b) when abusively breaking-up a credit relationship, c) when abusively sustaining a credit relationship, d) when granting a ruinous credit, and d) when abusively sustaining a credit relationship. But a statute enacted in 2005 dismantled the common law regime and created a statutory regime, establishing a non-liability principle, with only three exceptions. The efficacy of the statute, however, is questionable