{"id":8526,"date":"2015-04-13T11:12:57","date_gmt":"2015-04-13T15:12:57","guid":{"rendered":"https:\/\/wp.edilex.com\/rachat-dactions-le-prix-est-il-determinable\/"},"modified":"2024-03-26T10:58:15","modified_gmt":"2024-03-26T14:58:15","slug":"rachat-dactions-le-prix-est-il-determinable","status":"publish","type":"post","link":"https:\/\/edilex.com\/fr\/blog\/2015\/04\/13\/rachat-dactions-le-prix-est-il-determinable\/","title":{"rendered":"Rachat d’actions: le prix est-il d\u00e9terminable?"},"content":{"rendered":"

Dans une d\u00e9cision r\u00e9cente<\/span><\/a>, la Cour sup\u00e9rieure s’interrogeait notamment \u00e0 savoir si une entente relative \u00e0 un rachat d’actions est intervenue entre deux actionnaires \u00e0 parts \u00e9gales. Au terme de son analyse, la Cour conclut que le prix du rachat des actions n’a pas \u00e9t\u00e9 fix\u00e9 et qu’il n’existe aucun \u00e9l\u00e9ment objectif permettant de le d\u00e9terminer.<\/p>\n

Plus pr\u00e9cis\u00e9ment, cette d\u00e9cision oppose Christian Yelle (\u00abYelle\u00bb) \u00e0 Martin Lefran\u00e7ois (\u00abLefran\u00e7ois\u00bb), deux actionnaires de la soci\u00e9t\u00e9 Excavations Yelle & Lefran\u00e7ois inc. (la \u00abSoci\u00e9t\u00e9\u00bb). En demande, Yelle intente un recours en liquidation judiciaire \u00e9tant donn\u00e9 que la Soci\u00e9t\u00e9 est dans une impasse et n’op\u00e8re plus depuis quelques ann\u00e9es. En demande reconventionnelle, Lefran\u00e7ois, bien que d’accord avec le recours en liquidation judiciaire, all\u00e8gue qu’il a \u00e9t\u00e9 convenu que Yelle lui rach\u00e8terait ses actions et par cons\u00e9quent, souhaite qu’il soit condamn\u00e9 \u00e0 lui payer la somme de 269 813$ \u00e0 ce titre.<\/p>\n

La Cour doit donc d\u00e9terminer s’il y a effectivement eu une entente relative au rachat des actions de Lefran\u00e7ois. Tel que mentionn\u00e9 pr\u00e9c\u00e9demment, elle r\u00e9pond \u00e0 cette question par la n\u00e9gative. En appliquant les principes \u00e9nonc\u00e9s \u00e0 l’article 1708 C.c.Q., la Cour doit d\u00e9terminer s’il y a eu une entente quant au bien et au prix. Comme la question du bien ne pose pas probl\u00e8me, elle entreprend l’analyse du deuxi\u00e8me \u00e9l\u00e9ment.<\/p>\n

La Cour r\u00e9it\u00e8re d’abord que le prix doit \u00eatre d\u00e9termin\u00e9 ou d\u00e9terminable. En ce sens, elle explique que \u00abl’entente entre les parties doit comprendre suffisamment d’\u00e9l\u00e9ments objectifs sur la fa\u00e7on de fixer le prix de mani\u00e8re \u00e0 ce qu’il soit possible au moment de la vente de le d\u00e9terminer avec pr\u00e9cision\u00bb. Or en l’esp\u00e8ce, il n’existe aucune preuve d’une telle entente. La Cour partage l’avis de Yelle selon lequel le prix n’est pas fix\u00e9 puisque la valeur de la Soci\u00e9t\u00e9 restait \u00e0 \u00e9valuer et se prononce\u00a0comme suit :<\/p>\n

[54] \u00a0 \u00a0 \u00a0 Plusieurs m\u00e9thodes peuvent \u00eatre utilis\u00e9es pour d\u00e9terminer la valeur des actions d’une soci\u00e9t\u00e9 et plusieurs facteurs peuvent \u00eatre pris en compte dans l\u2019estimation de ce prix.\u00a0 \u00c0 titre d’exemple, les parties peuvent retenir la valeur comptable, la valeur comptable ajust\u00e9e tenant compte de certains \u00e9l\u00e9ments dont la plus-value de certains biens, les profits ou pertes r\u00e9alis\u00e9s depuis le dernier bilan ou encore la juste valeur mar\u00adchande.<\/p>\n

[55]\u00a0\u00a0 \u00a0\u00a0 \u00a0\u00a0Bref, il y a une multitude de fa\u00e7ons d’\u00e9tablir la valeur d\u2019actions.<\/p>\n

[56]\u00a0\u00a0 \u00a0\u00a0 \u00a0\u00a0Le fait de pr\u00e9voir que la valeur de la soci\u00e9t\u00e9 sera \u00e9tablie n’est pas en soi un \u00e9l\u00e9ment objectif permettant de d\u00e9terminer la valeur des actions au moment de la vente.<\/p>\n

[57]\u00a0\u00a0 \u00a0\u00a0 \u00a0\u00a0En effet, une fois cette valeur \u00e9tablie quel aurait \u00e9t\u00e9 le prix des actions de Mon\u00adsieur Lefran\u00e7ois\u00a0: la valeur comptable, la valeur comptable ajust\u00e9e, la juste valeur marchande?\u00a0 Aurait-on par exemple tenu compte de l’achalandage, de l’avantage pour Y.L. inc. que Transports entrepose la machinerie d’Y.L. inc. sans frais?\u00a0 Aurait-on pris en consid\u00e9ration l’apport de Monsieur Yelle en connaissance et contact d’affaires? Rien de tout ceci n\u2019a \u00e9t\u00e9 discut\u00e9 et encore moins pr\u00e9vu.<\/p>\n

De plus, la Cour est d’avis qu’il ne lui revient pas de d\u00e9terminer le prix du rachat des actions puisqu’il s’agit d’un \u00e9l\u00e9ment essentiel de la transaction qui n’a pas \u00e9t\u00e9 fix\u00e9 et qu’elle ne dispose pas de suffisamment d’informations pour le d\u00e9terminer.<\/p>\n

En raison de ce qui pr\u00e9c\u00e8de, la Cour conclut qu’il n’y a pas eu d’accord de volont\u00e9 entre Yelle et Lefran\u00e7ois quant au rachat des actions de ce dernier.\u00a0Ainsi, il en ressort que lorsque les parties ne sont pas en mesure de d\u00e9terminer le prix du rachat des actions, elles doivent s’assurer que leur entente fournit suffisamment d’\u00e9l\u00e9ments objectifs permettant de fixer la contrepartie attendue au moment de la vente.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Dans une d\u00e9cision r\u00e9cente, la Cour sup\u00e9rieure s’interrogeait notamment \u00e0 savoir si une entente relative \u00e0 un rachat d’actions est intervenue entre […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[20],"tags":[],"class_list":["post-8526","post","type-post","status-publish","format-standard","hentry","category-actualites-juridiques"],"yoast_head":"\nRachat d'actions: le prix est-il d\u00e9terminable? - Edilex.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/edilex.com\/fr\/blog\/2015\/04\/13\/rachat-dactions-le-prix-est-il-determinable\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rachat d'actions: le prix est-il d\u00e9terminable?\" \/>\n<meta property=\"og:description\" content=\"Dans une d\u00e9cision r\u00e9cente, la Cour sup\u00e9rieure s’interrogeait notamment \u00e0 savoir si une entente relative \u00e0 un rachat d’actions est intervenue entre […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/edilex.com\/fr\/blog\/2015\/04\/13\/rachat-dactions-le-prix-est-il-determinable\/\" \/>\n<meta property=\"og:site_name\" content=\"Edilex.com\" \/>\n<meta property=\"article:published_time\" content=\"2015-04-13T15:12:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-26T14:58:15+00:00\" \/>\n<meta name=\"author\" content=\"Edilex\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u00c9crit par\" \/>\n\t<meta name=\"twitter:data1\" content=\"Edilex\" \/>\n\t<meta name=\"twitter:label2\" content=\"Dur\u00e9e de lecture estim\u00e9e\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/blog\\\/2015\\\/04\\\/13\\\/rachat-dactions-le-prix-est-il-determinable\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/blog\\\/2015\\\/04\\\/13\\\/rachat-dactions-le-prix-est-il-determinable\\\/\"},\"author\":{\"name\":\"Edilex\",\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/#\\\/schema\\\/person\\\/52d2044714c536753fb0add3ceb175db\"},\"headline\":\"Rachat d’actions: le prix est-il d\u00e9terminable?\",\"datePublished\":\"2015-04-13T15:12:57+00:00\",\"dateModified\":\"2024-03-26T14:58:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/blog\\\/2015\\\/04\\\/13\\\/rachat-dactions-le-prix-est-il-determinable\\\/\"},\"wordCount\":716,\"publisher\":{\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/#organization\"},\"articleSection\":[\"Actualit\u00e9s juridiques\"],\"inLanguage\":\"fr-FR\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/edilex.com\\\/fr\\\/blog\\\/2015\\\/04\\\/13\\\/rachat-dactions-le-prix-est-il-determinable\\\/\",\"url\":\"https:\\\/\\\/edilex.com\\\/fr\\\/blog\\\/2015\\\/04\\\/13\\\/rachat-dactions-le-prix-est-il-determinable\\\/\",\"name\":\"Rachat d'actions: le prix est-il d\u00e9terminable? 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