{"id":2371,"date":"2019-06-03T10:01:46","date_gmt":"2019-06-03T08:01:46","guid":{"rendered":"https:\/\/www.hoche-avocats.com\/?p=2371"},"modified":"2019-11-21T10:04:07","modified_gmt":"2019-11-21T09:04:07","slug":"newsletter-by-hoche-avocats-june-2019-shadow-manager-what-risks","status":"publish","type":"post","link":"https:\/\/www.hoche-avocats.com\/en\/newsletter-by-hoche-avocats-june-2019-shadow-manager-what-risks\/","title":{"rendered":"Newsletter by Hoche Avocats – June 2019 – \u201cShadow\u201d manager: what risks?"},"content":{"rendered":"

\u201cShadow\u201d manager: what risks?<\/strong><\/span><\/p>\n

Are you sure you are not exposing yourself to the\u00a0risk of being called a de facto manager?<\/strong>
\nShareholder, partner, investment fund manager, commercial director,\u00a0banker,… you are obviously interested in the management of the company in\u00a0which you have an interest. But are you too closely and actively involved in it?
\nCould you, in the event of difficulties, be qualified as a de facto manager and\u00a0what would be the consequences?
\n1. How to define a de facto manager?
\nThere is no legal definition of de facto manager. It is left to the sovereign\u00a0discretion of the judges of the merits. But a de facto manager assumes the\u00a0same responsibilities as the de jure manager, the only one regularly vested
\nwith a corporate office.
\nThe doctrine generally defines a de facto officer as one who “in full sovereignty\u00a0and independence, exercises a positive activity of management and direction”
\n(Prof. J-L Rives-Lange), thus exercising de facto an irregular power, which is not\u00a0legally attributed to him. Therefore, a simple supervisory or control role (as in\u00a0the case of a supervisory board) does not meet these conditions.<\/p>\n

<\/div>\n
Newsletter by Hoche Avocats – June 2019 – “Shadow” manager: what risks ? <\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Are you sure you are not exposing yourself to the\u00a0risk of being called a de facto manager?<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[29],"tags":[],"class_list":["post-2371","post","type-post","status-publish","format-standard","hentry","category-publications-en"],"acf":[],"yoast_head":"\nNewsletter by Hoche Avocats - June 2019 - \u201cShadow\u201d manager: what risks? - Hoche Avocats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hoche-avocats.com\/en\/newsletter-by-hoche-avocats-june-2019-shadow-manager-what-risks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newsletter by Hoche Avocats - June 2019 - \u201cShadow\u201d manager: what risks? 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