Arbitral Digest

Matter

Charity & Investment Merger Arbitrage Fund v Euro Disney SCA

  1. 8 September 2015France

    8 September 2015France

    Judgment of the Paris Court of Appeal in case 2015/07257 dated 8 September 2015

    Paris Court of Appeal, Division 5, Chamber 5-7

    Case no.
    2015/07257
    Decision summary
    The Paris Court of Appeal rejected Charity & Investment Merger Arbitrage Fund's application to annul AMF decision no. 215C0380 of 31 March 2015, which had declared compliant the simplified public offer for Euro Disney SCA shares at EUR 1.25 per share. It also rejected Euro Disney SCA's request for publication of the judgment and the other respondents' claims for damages and a civil fine.

    Supporting details

    3 authorities · 19 participants
    Charity & Investment Merger Arbitrage Fund
    Representative
    Julien Visconti (For: Charity & Investment Merger Arbitrage Fund)
    Expert
    K. B. (For: Charity & Investment Merger Arbitrage Fund)
    Euro Disney Investments SAS
    Representative
    Jean-Claude Cheviller (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Jean-Yves Garaud (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Fabrice Baumgartner (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    EDL Corporation SAS
    Representative
    Jean-Claude Cheviller (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Jean-Yves Garaud (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Fabrice Baumgartner (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    EDL Holding Company LLC
    Representative
    Jean-Claude Cheviller (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Jean-Yves Garaud (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Representative
    Fabrice Baumgartner (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Euro Disney SCA
    Representative
    Matthieu Boccon-Gibod (For: Euro Disney SCA)
    Representative
    Patrick Bonvarlet (For: Euro Disney SCA)
    Paris Court of Appeal, Division 5, Chamber 5-7
    Advocate General
    Madeleine Guidoni
    Other
    Institutional administrator
    Autorité des marchés financiers
    Representative
    L. G. (For: Autorité des marchés financiers)
    Institutional administrator
    Benoît Truet-Callu

    Authorities cited

    3
    • French Monetary and Financial Code
      statute
    • AMF General Regulation
      rules
    • French Code of Civil Procedure
      statute

    1 year, 9 months and 27 days later · 666 days

  2. 5 July 2017France

    5 July 2017France

    Judgment No. 1016 F-P+B of the French Court of Cassation dated 5 July 2017

    French Court of Cassation, Commercial, Financial and Economic Chamber

    Case no.
    R 15-25.121
    Citation
    Arrêt n° 1016 F-P+B
    Decision summary
    The French Court of Cassation rejected Charity & Investment Merger Arbitrage Fund's appeal and upheld the dismissal of its challenge to the AMF's approval of the simplified public offer for Euro Disney SCA shares. It ordered CIMA to pay costs and EUR 3,000 each to Euro Disney SCA, the AMF, and the Euro Disney Investments, EDL Corporation and EDL Holding companies under article 700 of the French Code of Civil Procedure.

    Supporting details

    8 authorities · 13 participants
    Charity & Investment Merger Arbitrage Fund
    Representative
    Le Bret-Desaché law firm (For: Charity & Investment Merger Arbitrage Fund)
    Euro Disney Investments SAS
    Representative
    Gaschignard law firm (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    EDL Corporation SAS
    Representative
    Gaschignard law firm (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    EDL Holding Company LLC
    Representative
    Gaschignard law firm (For: Euro Disney Investments SAS · EDL Corporation SAS · EDL Holding Company LLC)
    Euro Disney SCA
    Representative
    Waquet, Farge and Hazan law firm (For: Euro Disney SCA)
    Autorité des marchés financiers
    Representative
    Ohl and Vexliard law firm (For: Autorité des marchés financiers)
    French Court of Cassation, Commercial, Financial and Economic Chamber
    Advocate General
    Mme Beaudonnet
    Other
    Institutional administrator
    M. Graveline

    Authorities cited

    8
    • X v Austria, no. 12235/86, 21 September 1993
      case
    • Z and Others v Poland, no. 33776/96, 4 October 2001
      case
    • Sigma Radio Television Ltd v Cyprus, nos. 32181/04 and 35122/05, 21 July 2011
      case
    • A v United Kingdom, no. 42509/05, 27 October 2009
      case
    • European Convention on Human Rights
      treaty
    • French Monetary and Financial Code
      statute
    • AMF General Regulation
      rules
    • French Code of Civil Procedure
      statute

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