Orco Property Group: third party opposition filed to the judgment approving the Plan de Sauvegarde
Paris, 10 June 2010 – a third party filed an objection with the Paris “Tribunal de Commerce” regarding the 19 May, 2010 judgment that approved Orco Property Group’s Plan de Sauvegarde.
This third party opposition was filed by Maître François Kopf, attorney for Mr. Luc Leroi, bondholder representative for the « OBSAR 2010 » (ISIN FR0010249599), « CONVERTIBLE 2013 » (ISIN FR0010333302), and « OBSAR 2014 » (ISIN XS0291838992 and XS029184062). Regarding these three bonds, the third party opposition contests the maximum bond liability to be reimbursed within the “Plan de Sauvegarde”.
As long as the Paris “Tribunal de Commerce” has not rendered a decision on the third party opposition, the underlying judgment approving the Plan de Sauvegarde is fully effective. Orco Property Group’s management remains confident in the validity of the approved Plan de Sauvegarde.
Nicolas Tommasini +33 1 40 67 67 23, firstname.lastname@example.org
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