Orco Property Group will pursue its financial restructuring
within the Safeguard Procedure
Paris - September 24th, 2009 - The Bondholders’ General Meeting has rejected the restructuration of the bonds indebtedness proposed by the Group after weeks of discussions with representatives of bondholders.
Individual consultations with Bondholders will now be organized in coordination with Me Le Guerneve and Me Leloup-Thomas, respectively Trustee (Administrateur Judiciaire) and Creditor’s Representative (Mandataire Judiciaire) appointed by the Commercial Court of Paris.
Orco Property Group’s Management will propose an alternative Plan that Me Leloup-Thomas will then transmit to all creditors for consultation knowing that the Court will have full power to decide on a term out of all liabilities over a maximum period of 10 years.
Hence, the Administrateur Judiciaire is requesting the prorogation of the observation period to continue benefiting from the sauveguarde procedure.
For more information, visit our Shareholders corner on www.orcogroup.com, or contact:
Nicolas Tommasini +33 1 40 67 67 23 or at firstname.lastname@example.org
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