A bank that executes a wire transfer order for investment purposes acts merely as a payment service provider. As such, it is under no obligation to interfere with the appropriateness of the investment, nor to warn its client of its speculative nature. The bank can only be held liable in the presence of apparent anomalies …
Cass. civ. 1ère, 9 July 2025, no. 24-19.647 In this ruling of 9 July 2025, the First Civil Chamber of the Court of Cassation made a significant reversal of case law concerning loans denominated in foreign currencies, particularly Swiss francs, imposing on banks a greater obligation of transparency regarding exchange rate risks throughout the term …
In a ruling handed down on 18 December 2024 (Appeal no. 23-20.785), the First Civil Chamber of the Cour de cassation dismissed the appeal lodged by a lawyer challenging the professional nature of a current account opened in his name. This decision clarifies the interpretation of the rules applicable to current account agreements in a …
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A parent company which, in a letter of intent, undertakes to do "what is necessary to ensure that its subsidiary respects its commitments and has sufficient cash" grants to the bank a guarantee with an obligation to achieve a fixed result.
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