EuropaCorp’s Chapter 15 bankruptcy case closed by court

By Sarah Lizee

Olympia, Wash., Oct. 4 – EuropaCorp SA’s Chapter 15 bankruptcy case was closed Monday by the U.S. Bankruptcy Court in the Southern District of New York.

As previously reported, the company’s safeguard proceedings pending in the Tribunal de Commerce de Bobigny were recognized by the U.S. court in June 2019.

Company consultant Kevin Tatum McDonald said when Europa made the Chapter 15 filing that it had incurred losses over the previous two and a half years, “largely attributable to a strategic decision in 2014 to handle the distribution of its films in the United States internally through EC Films rather than distributing through major U.S. studios and independent distributors.”

The company added that those losses were exacerbated by the poor performance of three recent films in the United States market.

Europa had signed a creditor protection procedure in France that gave it six months to restructure its debt while continuing operations.

The French movie studio is based in Saint-Denis, France. It filed bankruptcy on May 21, 2019 under Chapter 15 case number 19-11587.

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