Commercial Court

Opening of conciliation proceedings

Retrieved on: 
Monday, May 22, 2023
Prejudice, Court, Commercial Court, Trust, Commercial code, Security (finance), Groupe Casino, Rallying

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.

Key Points: 
  • 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 [1] , 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.

ERYTECH Provides Update on the Announced Combination with PHERECYDES

Retrieved on: 
Monday, May 15, 2023
Commercial Court, Tripura Merger Agreement, United Nations Security Council Resolution 29, Commercial code, Proposed merger of Publicis and Omnicom, Contribution, AMF, Holding company, Security (finance), Management

In relation with the announced merger of PHERECYDES into ERYTECH (the “Proposed Merger”), ERYTECH and PHERECYDES entered into a merger agreement on May 15, 2023, pursuant to which PHERECYDES will be merged into ERYTECH and PHERECYDES shareholders will receive 15 new ERYTECH shares for every 4 PHERECYDES shares they own (the “Merger Agreement”).

Key Points: 
  • In relation with the announced merger of PHERECYDES into ERYTECH (the “Proposed Merger”), ERYTECH and PHERECYDES entered into a merger agreement on May 15, 2023, pursuant to which PHERECYDES will be merged into ERYTECH and PHERECYDES shareholders will receive 15 new ERYTECH shares for every 4 PHERECYDES shares they own (the “Merger Agreement”).
  • The annual general meetings of ERYTECH and PHERECYDES shareholders will be called upon to vote on the Proposed Merger on June 23, 2023.
  • The Proposed Merger is expected to close shortly after the approval by both ERYTECH and PHERECYDES shareholders.
  • Guy Rigaud, of 827,132 PHERECYDES shares to ERYTECH in consideration of 3,101,745 newly issued ERYTECH shares (the “Contribution”).

Technicolor Creative Studios: availability of a prospectus approved by the French Autorité des marchés financiers under number 23-139

Retrieved on: 
Tuesday, May 2, 2023
Exercise, Commercial Court, Technicolor Creative Studios, Judgement, Prospectus, Convertible, AMF, Security (finance), Euronext

The completion of each of these issuances forms an indivisible whole, such that if any could not be completed, none of the others could then be completed.

Key Points: 
  • The completion of each of these issuances forms an indivisible whole, such that if any could not be completed, none of the others could then be completed.
  • The Prospectus consists of the universal registration document (document d’enregistrement universel) of the Company, approved by the AMF on April 21, 2023 under number R. 23-013, the securities note (note d’opération) (the “Securities Note”), and the summary of the prospectus (included in the Securities Note).
  • The Prospectus is available on the Company’s website www.technicolorcreative.com (under the heading “Investors” - “Financial information” - “Regulated Information”) and at its corporate head office: 8-10, rue du Renard, 75004 Paris, France.
  • It is also available on the website of the AMF ( www.amf-france.org ).

RALLYE S.A.: Opening of ad hoc mandate proceedings / Resumption of the listing of securities

Retrieved on: 
Tuesday, April 25, 2023
Commercial Court, Casino, Sale, Trust, Rallying, Groupe Casino

In this context, Rallye and its parent companies indicated that they would liaise with their creditors in order to examine the possibilities and possible ways of adjusting their safeguard plans.

Key Points: 
  • In this context, Rallye and its parent companies indicated that they would liaise with their creditors in order to examine the possibilities and possible ways of adjusting their safeguard plans.
  • The ad hoc mandate procedure is an amicable procedure, with no impact on the safeguard plan or on the rights and obligations of the companies, their shareholders and the creditors of the companies involved.
  • The listing of all securities issued by the companies concerned will resume on 26 April, at market opening.
  • [1] Casino’s shares representing 11.7 % of Casino’s share capital have been placed in trust (fiducie-sûreté) by Rallye for the benefit of certain creditors, including Fimalac (cf.

GEVELOT S.A.: PRESS RELEASE CLOSING OF 2022 ACCOUNTS

Retrieved on: 
Saturday, April 15, 2023
Commercial Court, PCM, Pump, Juhayna Food Industries, Food, Oil, Clerk, Gas, Acquisition, Holding, Depreciation, Growth, Combined, SA, Renewable energy, Beauty salon, Tutoring, Cryptocurrency, Bank, Satellite navigation device

The Group’s consolidated operating income in 2022 amounted to a profit of €12.1 million against €5.8 million in 2022, i.e.

Key Points: 
  • The Group’s consolidated operating income in 2022 amounted to a profit of €12.1 million against €5.8 million in 2022, i.e.
  • The increasing Pumps Sector’s contribution is positive for €12.9 million (€6.7 million positive in 2021).
  • In 2022, net charges of consolidated tax totalled €1.3 million against €0.4 million in 2021.
  • An impairment on recent bond investments has been recorded at the end of 2022 amounted to €2.1 million.

Technicolor Creative Studios: Progressing towards delivering its recovery plan

Retrieved on: 
Monday, April 3, 2023
Elminster's Ecologies Appendix I: The Battle of Bones / Hill of Lost Souls, Business, Energy and Industrial Strategy Committee, Commercial Court, Note, OID, Lien, Respiration, Vantiva, Technicolor Creative Studios, Risk, Equity, Chapter Three, Judgement, Sale, TCS, Creativity, Prospectus, Documentation, AMF, Growth, Appendix, Film industry, Commercial property, Security (finance), Self storage, Management, Medical device, Euronext Paris, Euronext, Barclays

PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.

Key Points: 
  • PARIS (FRANCE), April 3, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) announces today an update of the implementation of its refinancing.
  • New chapter of Technicolor Creative Studios’ Refinancing:
    Approval by a judgment of the Commercial Court of Paris dated March 29, 2023, which puts an end to the conciliation procedure opened on January 20, 2023
    Caroline Parot, Chief Executive Officer of Technicolor Creative Studios, said: “Reaching an agreement on the refinancing of Technicolor Creative Studios has been pivotal in establishing the foundations of our long-term growth.
  • I am delighted that the process is progressing well with the execution of a conciliation protocol in line with the established schedule.
  • We are extremely grateful for the confidence and support of our key creditors and shareholders, as we strive to achieve Technicolor Creative Studios’ full value potential.

Technicolor Creative Studios: 2022 Full Year Results and business update

Retrieved on: 
Friday, March 10, 2023
Meta, NetEase, Top Gun, Creativity, Dardenne, Top Gun: Maverick, Documentation, LVI, Commercial Court, Visual Effects Society Award for Outstanding Animated Character in a Photoreal Feature, Technicolor Creative Studios, Warner Bros. Interactive Entertainment, Animation, UPON, Baz, Thirteen Lives, Recollections of Full Years, Electronic Arts, Prix, Rockstar Games, Growth, MPC, Sega, Cannes Film Festival, Visual effects, VFX, Rock Star, EBITDA, Sumo Digital, The Mill, Take-Two Interactive, Mikros Image, Visual Effects Society, Super Bowl, Ubisoft, Euronext Paris, Agreement in principle, Film industry, Video game, Risk management, Cryptocurrency, Creative industries, Management, Renewable energy, Studio, Gameloft, Capcom

PARIS (FRANCE), March 10, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) today announced its Full Year unaudited 2022 financial results1.

Key Points: 
  • PARIS (FRANCE), March 10, 2023 – Technicolor Creative Studios (Euronext Paris: TCHCS) (the “Company”) today announced its Full Year unaudited 2022 financial results1.
  • To better seize market opportunities and strengthen Technicolor Creative Studios’ leading positions, the Company took a series of concrete measures through the Re*Imagined program.
  • I would like to express my utmost gratitude to all Technicolor Creative Studios teams, who have demonstrated relentless commitment towards delivering extraordinary work to our clients.
  • The Technicolor Games team contributed to eight global releases including FIFA 23, the biggest selling sports title of 2022.

SHAPING THE FUTURE FOR TECHNICOLOR CREATIVE STUDIOS FOLLOWING AGREEMENT ON ITS REFINANCING

Retrieved on: 
Wednesday, March 8, 2023
AMF, Convertible, Commercial Court, Sale, Commercial Court (Victoria), Technicolor Creative Studios, Prospectus, Fiducial inference, Original issue discount, Lien, AFEP, Mass meeting, Euronext Paris, Commercial, Documentation, Angelo Gordon, Creditor, Annual general meeting, Vantiva, Credit, New Money, Date, Agreement in principle, Film industry, Bank, Security (finance), Cryptocurrency, Lease, Self storage, Euronext, TCS, Principle

Technicolor Creative Studios reaches an agreement in principle on a €170m new money injection, including recapitalization

Key Points: 
  • Technicolor Creative Studios reaches an agreement in principle on a €170m new money injection, including recapitalization
    Paris (France), March 8, 2023 – Technicolor Creative Studios is pleased to announce an agreement in principle that provides a framework for rebound of the Company to the benefit of its studios, talents, customers and suppliers.
  • The Company has reached an agreement in principle on a new financing structure which includes a c.€170 million new money injection.
  • This would enable Technicolor Creative Studios to address its liquidity needs from Q2 2023 and allows operating cash flow to be focused on operational needs.
  • Anne Bouverot, Chairperson, and Caroline Parot, CEO: “This new favorable framework reaffirms the strong commitment of all our stakeholders, in particular our shareholders and lenders, and demonstrates their renewed confidence in the long-term prospects of Technicolor Creative Studios.

EQS-News: Steinhoff International Holdings N.V. : Conditional settlement with LSW

Retrieved on: 
Wednesday, February 22, 2023
Frankfurt Stock Exchange, News, LSW, JSE Limited, Settlement, Commercial Court, Steinhoff, Security (finance)

Steinhoff International Holdings N.V. (the “Company” or “Steinhoff” and with its subsidiaries, the “Steinhoff Group”).

Key Points: 
  • Steinhoff International Holdings N.V. (the “Company” or “Steinhoff” and with its subsidiaries, the “Steinhoff Group”).
  • As previously disclosed in the Company’s annual reports, litigation with certain entities including and affiliated to LSW GmbH (the “LSW Entities”) relating to the Conforama Group has been ongoing between the parties.
  • On 20 February 2023 Steinhoff and certain LSW Entities reached a full and final settlement of all outstanding litigation between the parties to be concluded before the Commercial Court of Vienna for total payment of €202.12 million (“the Settlement”).
  • The Settlement is subject to the fulfilment of certain conditions, including Steinhoff Group lender consent.

Lysogene: Conversion of the Safeguard Proceedings Into Reorganization Proceedings

Retrieved on: 
Wednesday, January 25, 2023
Health, Genetics, Research, Pharmaceutical, Science, Biotechnology, LYS, CNS, Interest, Central nervous system, Commercial Court, Hearing

Lysogene (FR0013233475 – LYS) (Paris:LYS), a phase 3 gene therapy platform Company targeting central nervous system (CNS) diseases, announces the conversion of the safeguard proceedings which has been in place since December 13, 2022 into reorganization proceedings.

Key Points: 
  • Lysogene (FR0013233475 – LYS) (Paris:LYS), a phase 3 gene therapy platform Company targeting central nervous system (CNS) diseases, announces the conversion of the safeguard proceedings which has been in place since December 13, 2022 into reorganization proceedings.
  • As announced on January 6, 2023, in the absence of a solution to strengthen its financial situation and secure its cash runway during the safeguard proceedings, Lysogene together with the judicial administrator, filed a request with the Commercial Court of Nanterre for the conversion of the safeguard proceedings into reorganization proceedings.
  • This request was examined and approved by the Commercial Court of Nanterre at the hearing of January 24, 2023.
  • Interested candidates are invited to contact: