Fine of €2,000,000 handed down against the company RENAULT SAS

Pursuant to Articles L. 441-16 a) and L. 470-2 V of the French Commercial Code, a fine of 2,000,000 euros was imposed on Renault SAS by the Ile-de-France Regional and Interdepartmental Directorate for the Economy, Employment, Labour and Solidarity (DRIEETS) for late payment of its suppliers’ invoices. These delays were noted by the DRIEETS as part of an investigation launched by the DGCCRF into compliance with the rules of the French Commercial Code on payment terms.