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Law firm founded 10 years ago · 30,000 clients represented • Paris • Marseille • Les Gets

Customer Area
Collective Defense · SCPI

Collective defense
of SCPI partners.

SCPIs (Sociétés Civiles de Placement Immobilier) are a popular investment vehicle, particularly because they allow for true risk pooling. Depending on their type, they offer either a return that is often higher than that of traditional rental real estate or, in the case of so-called “tax-advantaged” SCPIs, access to particularly attractive tax-exemption schemes.

The Advantage of SCPIs: Risk Pooling

An SCPI holds a portfolio of assets based on the funds it has raised. If one or more assets do not perform well, this is offset by the others, allowing the risk to be diluted and shared.

Yield-Focused SCPIs vs. Tax-Focused SCPIs

High-Yield SCPI

Regular rental income

Its objective is to distribute regular rental income to its partners, generally at a rate higher than the market rate. It holds a diversified portfolio of assets (offices, retail spaces, residential properties) that generate rental income, which is distributed to partners based on their respective ownership shares.

Tax-Efficient SCPI

Significant Tax Savings

Allows its partners to benefit from significant tax advantages (income tax credits, deductions) related to investments made, in particular, under the Malraux, historic monuments, or Pinel programs.

Our Areas of Expertise

The issues we address

01.

Disputes Among Partners

Assistance and representation in disputes among partners of an SCPI, disagreements over strategy, challenges to general meeting decisions, and the expulsion of partners.

02.

Disputes Between Partners and the Management Company

Challenges to management, actions for rendering of accounts, challenges to general meeting decisions, requests for disclosure of documents.

03.

Liability Lawsuits

Lawsuits against the management company or distributors for mismanagement, breach of disclosure obligations, or misleading marketing.

04.

Testimony Before the AMF

The management company is authorized by the AMF. In the event of regulatory violations, we take action to report them or as part of sanction proceedings.

05.

Disputes Regarding Investments Made by the SCPI

Advice on assets held by the SCPI; disputes involving sales law or construction law.

Types of SCPI
2

Yield-focused SCPIs (regular rental income) and tax-advantaged SCPIs (significant tax benefits under the Malraux, MH, and Pinel programs)

Regulator
AMF

SCPI management companies are licensed by the French Financial Markets Authority (AMF)—the key point of contact in the event of a violation

Types of Actions
5

Disputes among partners, vs. management company, liability, AMF, investments made by the SCPI

FAQ

Frequently Asked Questions

What is the difference between a yield-oriented SCPI and a tax-efficient SCPI?

A yield-oriented SCPI distributes regular rental income at a rate that is generally higher than the market rate. A tax-advantaged SCPI allows its shareholders to benefit from significant tax advantages— such as income tax reductions—related to investments in properties designated under the Malraux, historic monuments, and Pinel programs, among others.

Can I take legal action against the management company of my SCPI?

Yes, in certain cases. The management company has significant legal and regulatory obligations to the AMF. In the event of a breach, mismanagement, failure to provide information, or decisions that are detrimental to the partners, a liability action may be brought. We will review your case to determine the available remedies.

When should I file a complaint with the AMF regarding my SCPI?

A complaint may be filed with the AMF in the event of a serious breach by the management company of its regulatory obligations: failure to inform partners, improper marketing practices, or management contrary to the interests of unit holders. We analyze whether the facts warrant filing a complaint.

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