Article 1592 du Code Civil: Sécuriser L’expertise Avant Qu’elle ne Devienne Contentieuse (Article 1592 of the Civil Code: Securing the Appraisal Before It Becomes Contentious), Option Droit & Affaires
June 03, 2026Partners Marie Davy and Sébastien Pontillo and associate Romain Nowak co-authored an article for Option Droit & Affaires examining the growing use of Article 1592 of the French Civil Code in M&A transactions to determine share sale prices when the price cannot be fixed at signing. The article discusses how careful drafting of Article 1592 appraisal provisions can help reduce valuation disputes and litigation risk.
The authors analyze key considerations for structuring an effective Article 1592 appraisal process, including distinguishing the regime from Article 1843-4 of the Civil Code, defining the appraiser’s mandate and valuation methodology, ensuring access to relevant information, and preserving confidentiality. They also discuss the limited role of courts in reviewing an appraiser’s determination and provide practical guidance for designing a robust contractual framework that promotes transactional certainty and minimizes post-closing disputes.