April 22, 2024
Finance

Proceedings for recognition of financial restructuring in the United States (Chapter 15)


Groupe Casino

Groupe Casino

Proceedings for recognition of financial restructuring in the United States (Chapter 15)

Paris, 16 February 2024

Casino announces that on 15 February 2024 it filed petitions before the Bankruptcy Court of the Southern District of New York for the opening of Chapter 15 proceedings under the U.S. Bankruptcy Code.

The purpose of these proceedings is to obtain recognition in the United States of (i) the accelerated safeguard proceedings at the level of Casino and six of its subsidiaries1 and (ii) as the case may be, the judgments adopting the related accelerated safeguard plans, in order to ensure their enforcement in the United States, in particular with regard to debt instruments governed by the law of the State of New York.

In the same way as accelerated safeguard proceedings, Chapter 15 proceedings are technical proceedings and will have no impact on the Group’s relations with its operating partners (in particular its suppliers and franchisees) or its employees.

The hearing before the Bankruptcy Court of the Southern District of New York to consider recognition of the accelerated safeguard proceedings and related judgments is expected to be held on 21 March 2024.

This press release was prepared solely for information purposes and should not be construed as a solicitation or an offer to buy or sell securities or related financial instruments. Likewise, it does not provide and should not be treated as providing investment advice. It has no connection with the specific investment objectives, financial situation or needs of any receiver. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. Recipients should not consider it as a substitute for the exercise of their own judgement. All the opinions expressed herein are subject to change without notice.

***

ANALYSTS AND INVESTORS CONTACTS

Christopher WELTON cwelton.exterieur@groupe-casino.fr – Tel: +33 (0)1 53 65 64 17
or
IR_Casino@groupe-casino.frTel: +33 (0)1 53 65 24 17

PRESS CONTACTS

Groupe Casino – Communications Director

Stéphanie Abadie – sabadie@groupe-casino.fr – Tél : +33 (0)6 26 27 37 05
or
directiondelacommunication@groupe-casino.fr – Tel: + 33(0)1 53 65 24 78

Agence IMAGE 7

Karine Allouis – kallouis@image7.fr – Tel: +33 (0)6 11 59 23 26

Laurent Poinsot – lpoinsot@image7.fr – Tel: + 33(0)6 80 11 73 52

Franck Pasquier – fpasquier@image7.fr – Tel: + 33(0)6 73 62 57 99


1 Casino Finance, Distribution Casino France, Casino Participations France, Quatrim, Monoprix and Ségisor.

Attachment



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.


100% secure your website.