Opening of conciliation proceedings
As of today, discussions with the holders of Rallye’s debts secured by Casino’s securities placed in trust (fiducie-sûreté) have not been successful yet.
- As of today, discussions with the holders of Rallye’s debts secured by Casino’s securities placed in trust (fiducie-sûreté) have not been successful yet.
- Under these circumstances, the companies have decided to request the opening of a conciliation proceeding to benefit from a more protective legal framework in order to pursue discussions with their creditors.
- The president of the Paris Commercial Court today opened conciliation proceedings to the benefit of Rallye, Foncière Euris, Finatis and Euris for an initial period of four months, possibly renewable for a further month, and appointed SELAFA MJA (Me Valérie Leloup-Thomas) and SELARL Fides (Me Bernard Corre) as conciliators (conciliateurs) and terminated the ad hoc mandate proceedings opened on 25 April 2023.
- Without prejudice to the application of Article L.611-16 of the Commercial Code  , the conciliation proceeding will allow the companies Rallye, Foncière Euris, Finatis and Euris to request from the Court periods of grace (délais de grâce) pursuant to Article L.611-7 of the Commercial Code in the event that the above-mentioned secured debt holders trigger events of default resulting from the opening of conciliation proceedings with respect to Casino.