Raphaël MORENON
Immunity from execution of foreign states: seizures, protective measures, Sapin 2 law and recent case law
By Raphaël MORENON15 September 2025Recover your money from a foreign state! Find out how French law governs debt recovery and your options. Simple and effective.
Classification of property security interests: order and priorities
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertySecurity law organises competition between creditors. Who will be paid first if the debtor cannot honour all his debts? This is not a theoretical question. It determines the effectiveness of collateral and, for owners of mortgaged property, their rights and obligations. Why classify mortgages?The reform of security interests: what has changed?
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertySecurity law has undergone two major waves of reform in 15 years. The first in 2006 laid the foundations for modernisation. The second, in 2021, revolutionised certain key aspects. These changes have profoundly transformed the legal landscape for collateral, impacting in particular the rights and obligations of...The right of retention in property matters: a little-known legal weapon
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyThe right of retention is an effective but often neglected mechanism in security law. Although it is widely recognised for movable property, its application to immovable property remains more delicate, raising questions about the rights and obligations of the owner of an asset encumbered by a security on immovable property. A legal nature...Mortgages: the king of property collateral
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyMortgages dominate the real estate security landscape. This security, which does not involve dispossessing the debtor, offers the creditor effective protection. For the owner of the encumbered property, it implies a series of specific rights and obligations that it is essential to be familiar with. Definition and characteristics A mortgage is an accessory real right that encumbers...Property ownership as a guarantee: absolute protection
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyThe credit crisis is driving creditors to seek increasingly effective protection. In this context, security property is emerging as a powerful alternative to traditional guarantees. Ownership security: an old concept revisited Ownership security is based on a simple idea: to use the right of ownership itself...The property pledge: an outdated form of security
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyThe property pledge remains the forgotten property security. Unlike mortgages, which dominate the legal landscape, pledges of immovable property - formerly known as antichrèse - suffer from a marked lack of interest in practice. Definition and specific features Pledging of real estate is defined as "the assignment of real estate as security for an obligation with a...General property liens
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyDefinition and basis of liens on immovable property A lien on immovable property is a legal security interest. It confers a preferential right over the sale price of the debtor's property. It exists without being registered with the Land Registry. Liens are based on the quality of the claim. The...General presentation of property security interests
Law of guarantees, security interests and enforcement measures, Security interests in immovable propertyWhat is a charge on immovable property? A charge on immovable property is a security interest in immovable property. It protects a creditor against the risk of insolvency of its debtor. It allows the creditor to be paid in preference to other creditors. These guarantees are essential for mortgages and property transactions. Without them,...Seizure of intangible rights: more than just shares
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe seizure of partners' rights and securities is often highlighted in enforcement law. It deserves particular attention. But other intangible assets can also be seized by a creditor with an enforcement order. These "other intangible rights" constitute a vast and complex universe. They are...The forced sale of intangible rights: mechanisms and particularities
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe seizure of intangible rights necessarily leads to their sale. To understand this final stage, it is essential to first understand the definition and scope of the seizure of intangible rights. The procedure then varies according to the nature of the rights seized: shareholder rights, listed securities, etc.Seizure of intangible rights: instructions for use
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe seizure of intangible rights enables creditors to recover what is owed to them by seizing the debtor's shares, securities or other intangible assets. This specific procedure requires rigour and precision. For an in-depth understanding of its definition and scope, please see our article on...Seizure of securities: instructions for use
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesAn unpaid creditor has several weapons at his disposal to recover what is owed to him. One of these is the seizure of securities, which is part of the wider context of the seizure of intangible rights. But the subject is full of technical subtleties that sometimes turn this procedure into an obstacle course....What you need to know about seizing shareholder rights
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesAre you a creditor of a debtor who owns shares in a company? Seizing these rights could be an effective way of obtaining payment. However, this complex procedure is subject to strict rules that you should be familiar with. Shareholder's rights: assets that can be seized subject to conditions Shareholder's rights represent...Seizure of shareholders' rights: a little-known method of enforcement
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe seizure of shareholders' rights enables creditors to take legal action to seize and then sell the shares held by their debtor. This procedure has existed since the 1991-1992 reform of enforcement procedures, but is still rarely used. Why is this potentially formidable legal tool so difficult to use?Comparison of the seizure of French intangible rights with foreign laws
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe seizure of intangible rights enables creditors to place intangible assets belonging to their debtors under legal control and then sell them. This procedure is gaining in importance with the digitalisation of the economy and the increase in the value of dematerialised assets. Comparing international approaches will help to better...History and development of the seizure of intangible rights
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesThe legal vacuum before 1991 Prior to 1991, there were no enforcement remedies specifically aimed at intangible rights. This legal vacuum posed a problem. To better understand the seizure of intangible rights, its definition and its current scope, a historical perspective is essential. Bailiffs improvised. In the case of registered shares and partnership rights,...Seizure by way of execution vs. sequestration: what are the differences for intangible rights?
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesBefore we look at how intangible rights can be seized, it is essential that you gain a better understanding of what intangible rights are, how they are defined and what they cover. The seizure of intangible rights has two distinct faces: enforceable or protective. These two procedures meet different needs and are used in specific contexts. Two approaches,...Understanding the seizure of intangible rights: definition and scope
Law of guarantees, sureties and enforcement measures, Seizure of partnership rights and securitiesRecovering an unpaid debt can quickly become a headache. When reminders go unheeded, it's time to take enforcement action. One of these is the seizure of intangible rights, a little-known but valuable option. What is the seizure of intangible rights? This procedure enables a creditor in possession of a title...Release of seizure - Conditions, guarantees
Law of guarantees, securities and enforcement measures, Seizure of shipsThe maritime world has its own rules. When a ship is immobilised by a preventive seizure, an entire economic equilibrium is turned upside down. Downtime is expensive. The shipowner loses money. The goods do not arrive at their destination. Release then becomes a crucial issue for the shipowner. It represents...The system of maritime mortgages
Law of guarantees, securities and enforcement measures, Seizure of shipsThe maritime mortgage is an essential guarantee for the maritime business. It enables shipowners to obtain financing for the acquisition or construction of ships. Let's find out more about this special legal mechanism. I. Presentation of the maritime mortgage Definition and legal nature The maritime mortgage is a security interest in a vessel without dispossession...
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