Darrois Villey Maillot Brochier successfully advised the Crédit Agricole Group in a dispute against the Association for the defence of minority shareholders (Association de défense des actionnaires minoritaires, “ADAM”)

Paris, 15 July 2024

Darrois Villey Maillot Brochier successfully advised the Crédit Agricole Group in a dispute against the Association for the defence of minority shareholders (Association de défense des actionnaires minoritaires, “ADAM”) relating to cooperative investment certificates (certificats coopératifs d’investissement, “CCIs”). Listed on Euronext Paris, the CCIs issued by the Group’s thirteen regional banks (caisses régionales) represent a total market capitalisation of approximately €1.9 billion on 28 June 2024.

In 2017, invoking a permanent right to redeem their CCIs, ADAM and other holders of CCIs summoned the Crédit Agricole Group’s regional banks to obtain the redemption of their CCIs. On 27 June 2024, the Amiens Court of Appeal upheld the first instance judgments rejecting these claims and ordered the CCI holders to pay more than €120,000 under Article 700 of the Code of Civil Procedure.

The Darrois team consisted of Pierre Casanova, Nicolas Mennesson, Hugo Diener, Julie Pasternak (partners) and Héla Menif (associate).