Adagio Leaseback: €67,753 in damages and interest

On 30 June 2025, the Paris Court of First Instance issued a judgment concerning rent arrears owed by PV Holding and PV-CP City in respect of the Adagio Paris Tour Eiffel residence, formerly known as Adagio Paris Côté Seine. The plaintiffs are claiming €12,871.91 and €16,679.60 for unpaid rent, with late payment interest calculated at the statutory rate. The periods concerned include payment interruptions from 15 March to 22 June 2020 and from 30 October 2020 to 9 June 2021.

Adagio Paris Tour Eiffel: Unpaid rent during the Covid period

1°) Amounts of unpaid rent

Adagio Paris Tour Eiffel

The amounts owed to the consorts C total €11,274.55, broken down as follows:

• €5,637.28 to Ms N C
• €5,637.55 to Ms V C and Mr C

These sums shall bear interest at the legal rate from 16 April 2021, with capitalisation of interest from the date of the judgment. ​

Adagio Paris Tour Eiffel and Paris Haussmann

The amounts owed to the Bedel family are as follows:

• €28,924.44 for lot 1372-01 (Paris Tour Eiffel residence) ​
• €10,874.68 for lot 1134-01 (Paris Haussmann residence) ​

2°) €16,679.60 in interest at the legal rate from the date of the summons

The judgment orders the tenant company to pay late payment interest:

• Interest at the legal rate from the date of the summons (16 April 2021) on the sum of €16,679.60
• Interest at the legal rate from the date of the judgment for the remainder, with interest capitalised from the date of the judgment.

3°) €1,500 in legal fees for each of the two landlords

The judgment orders the Pierre et Vacances group company to pay a total of €3,000 in legal fees:

‘Orders PV-CP City to pay Ms N C, Ms V C, Mr F C, Mr J B and Ms F B the sum of €1,500 each in accordance with the provisions of Article 700 of the Code of Civil Procedure’.

Obligations of Mr C and Mr B (landlords)

1. Delivery of the rented premises: They must provide the premises in accordance with the lease agreement, allowing them to be used for their intended purpose (holiday residence).
2. Ensure peaceful enjoyment: They must ensure that the tenants can use the premises without disturbance, except in cases of force majeure or administrative restrictions beyond their control.

Obligations of PV-CP City (tenant)

1. Payment of rent: The company must pay the rent due in accordance with the terms of the lease, including interest on arrears in the event of non-payment. ​
2. Use of the premises: It must use the premises in accordance with their contractual purpose (tourist residence). ​
3. Compliance with administrative decisions: In the event of restrictions related to health or other measures, it must comply with them without claiming total exemption from rent, unless there is proof of destruction or partial loss of the premises. ​

Court decisions regarding the respective obligations of the parties

• Consorts C and B have fulfilled their obligations of delivery and peaceful enjoyment.
• The company PV-CP City is required to pay the rent due, without exemption for periods of administrative closure, as these restrictions do not constitute a partial loss of the leased property.

An application in line with the 2022 case law of the Court of Cassation

This judgment applies the now well-established case law on Covid rents established by the Court of Cassation in a series of landmark rulings on 30 June 2022.

It is surprising and regrettable that the companies of the Pierre et Vacances/Adagio group continue to fail to honour their rent payments, despite numerous court rulings on the matter.

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