MONACO Law and Practice Contributed by: Stephan Pastor, Emeline Elbaz-Mondeux and Coralie Trudon, CMS Pasquier Ciulla Marquet Pastor & Svara
10. Litigation 10.1 Frequency of Litigation
11. Activism 11.1 Shareholder Activism
Since there is no stock exchange in Monaco, all M&A transactions are private and do not usually go to liti - gation in the event of a dispute. Disputes are gener - ally settled amicably and mainly relate to guarantees granted by the parties. 10.2 Stage of Deal If it does occur, litigation is most commonly brought
Shareholder activism is not an important issue in Monaco, where most companies are small or medi - um-sized companies and are generally controlled by a few people and/or family-owned, with minority share - holders being for the most part passive. Exceptionally, minority shareholders that have the power to block certain important decisions, eg, a merger/takeover/sale of their company’s assets, may use that power to obtain better financial conditions in the prospective transaction or a higher dividend before they leave the company. 11.2 Aims of Activists There is no significant example of activists seeking to encourage companies to enter into M&A transactions,
in the post-closing phase of a deal. 10.3 “Broken-Deal” Disputes
To the best of the authors’ knowledge, the overall trend did not change in 2025. Broken-deal issues do not usually go to litigation and are usually settled ami - cably.
spin-offs or major divestitures in Monaco. 11.3 Interference With Completion See 11.1 Shareholder Activism .
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