Arkwood law firm obtains the suspension of the public registry of trusts
Our firm had brought the decree dealing with the public registry of trusts before the Supreme Court of Justice (Conseil d’Etat). We claimed the suspension of the public registry of trusts until the decision on the legality of the decree. We also requested the transmission of a preliminary question of constitutionality, arguing that the “public” character of the registry of trusts is unconstitutional (and not the existence of the registry itself), as it disproportionately infringes the right to privacy guaranteed by article 2 of the Déclaration des droits de l’homme et du citoyen de 1789.
Further to the hearing of July 19, where Me Stéphanie Auféril and Me Marine Dupas were assisted by their fellow lawyer to Supreme Courts, Me Matuchansky, the Conseil d’Etat just issued its Order:
- The question of the constitutionality of the article of the law of 2013 which created the « public » registry of trusts, is serious enough to ground a referral to the Conseil Constitutionnel and
- The execution of the decree dealing with the public registry of trusts is suspended until the decisions of the Conseil Constitutionnel on the constitutionality of the law and of the Conseil d’Etat on the legality of the decree.
In practice, the public registry of trusts should cease to be online shortly. The Conseil Constitutionnel has a maximum period of 3 months to take its decision.
This decision is a very positive first step but does not prejudge the outcome of the decisions on the legality/constitutionality which should be taken in the coming months about the public character of the registry of trusts.
To be continued…