CERTYNEX IFRS ACADEMY

Hélios SARL, a separate vehicle held by Alpha SA and Bêta SA, has a legal form that gives its members rights to its net assets and not to its assets taken one by one (case data). Examination of the contractual arrangement and of other facts and circumstances reveals nothing that modifies this situation (case data). What classification results?

A joint operation, because the legal form of a limited liability company says nothing about the actual rights and obligations of the parties.

A joint operation, because the parties have entered into a contractual arrangement that binds them, whatever its content on their rights.

A joint venture: the form gives rights to net assets, and nothing in the case modifies it.

Classification is impossible until the parties have assessed the percentage of capital they hold in the company.