Question · With a separate vehicle: three elements of analysis

Cobalt SA and Dune SA create Éolia SAS, a separate vehicle that operates a wind farm. By its legal form, Éolia owns the turbines and is solely liable for its debts. The contractual arrangement nevertheless provides that Cobalt and Dune share all of Éolia's output equally and bear its expenses and debts equally (case facts). Write a short note justifying the classification of the joint arrangement, distinguishing rule, case facts and professional judgement, and dealing with the disagreement between legal form and contractual terms.