Treasurer, Carpa Paris
“This funding comes exclusively from financial products drawn from the investment of the managed assets”
When was Carpa Paris created?
Carpa Paris, the fund for lawyers’ financial settlements in the Paris courts, was set up by the president of the Bar, Claude Lussan, in 1957, in the form of a non-profit organisation under the law of 1901. Before this date, in fact, lawyers did not handle funds. Let me explain: lawyers drafted an act – transfer of business funds, transfer of businesses, etc., or they won a case for their client; but they didn’t have the right to see a contract or a procedure through to the end, because they could not receive the funds, representing for example the proceeds from the sale of a business, or damages, and distribute them among the beneficiaries.
Thus, the co-contracting parties or those involved in the trial sorted it out among themselves, at their own risk. Lussan’s idea was therefore to guarantee the handling of funds that were due to lawyers’ clients, as well as their correct distribution, whilst keeping control over the origin and destination of the aforementioned funds. Carpa Paris was thus created to receive these funds, check their origin and then distribute them to the beneficiaries. There was never any question of lawyers receiving this money directly into their bank accounts, which could cause confusion between their turnover and clients’ money.
More precisely, what are Carpa’s advantages for the lawyer and the client?
As far as the lawyer is concerned, he is safe in the knowledge that Carpa Paris will have an objective control over the origin and destination of the funding that he places in his client’s account, particularly in the context of fighting against money laundering. More precisely, the lawyer deposits the funds into an account opened in his name in Carpa Paris’ books. Each transaction is isolated from the others in a sub-account of its own, so that there is no confusion between each of the lawyer’s clients.
I believe that Carpa Paris is much more responsive than certain banking or financial establishments.
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