Testut
France Court of Cassation
12 December 2000, No. 97-83470 (2000)
- Written by Curtis Parvin, JD
Facts
Alain X (plaintiff) was a shareholder of the Testut Company (Testut). Alain X brought an action against various directors and an attorney on Alain X’s and Testut’s behalf. As a result of Alain X’s claims, the French prosecutor brought criminal proceedings against Testut’s former directors, a former bank Chief Executive Officer, and an attorney for abuse of corporate assets, forgery, the use of forged documents, concealment, and conspiracy. Testut also sued, making similar allegations as Alain X. The trial court rejected Testut’s and Alain X’s claims and further ruled that Alain X could not present claims on behalf of Testut because Testut was active in the litigation. Alain X appealed—Testut did not—but the appellate court ruled that Alain X could not proceed further because Testut declined to appeal. Alain X appealed to France’s highest court, the France Court of Cassation.
Rule of Law
Issue
Holding and Reasoning (Per curiam)
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