Key recent events
Termination of Safeguard plan:
- Considering the full payment by ORCO PROPERTY GROUP (the “Company” or “OPG” and together with its
subsidiaries as the “Group”) of its liabilities due under the Safeguard plan, the Paris Commercial Court (the “Court”)
pronounced on 26 October 2015 the termination of the Company’s Safeguard Plan.
- The Safeguard was opened in favor of the Company by a judgement of the Court on 25 March 2009 pursuant to the
European Regulation n°1346/2000 and articles L.620-1 et seq. of the French Commercial Code. The Safeguard
Plan, approved by the Court on 19 May 2010, provided the Company with a ten year payment schedule to repay its
liabilities admitted to Safeguard. In 2012 the Company successfully completed the Group’s bond restructuring, which
restructured EUR 411 million in nominal OPG bond debt (EUR 549 million in remaining Safeguard payments) and
EUR 100 million in nominal former ORCO Germany bond debt (EUR 129 million including interest and redemption
premium).
- Following the Company’s reorganization that took place in 2014 the Company filed on 19 June 2015 a request aimed
at the termination of its Safeguard Plan linked with an early repayment of those liabilities admitted to the Safeguard
Plan that became due. By judgment dated 19 August 2015 the Court accepted the Company’s request to modify its
Safeguard Plan
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