Groupe Casino: Proceedings for recognition of financial restructuring in the United States (Chapter 15)
16 Februar 2024 - 7:00PM
Groupe Casino: Proceedings for recognition of financial
restructuring in the United States (Chapter 15)
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
orIR_Casino@groupe-casino.fr - Tel: +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
05ordirectiondelacommunication@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.
- 2024 02 16 - PR - Chapter 15
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