Casino’s accelerated safeguard plans approved by Paris court

By Sarah Lizee

Olympia, Wash., Feb. 27 – Casino, Guichard-Perrachon SA (Groupe Casino) said the Paris Commercial Court has approved the accelerated safeguard plans for Casino and its subsidiaries, according to a Monday press release.

The court appointed Aurelia Perdereau, insolvency administrator at Thevenot Partners, Helene Bourbouloux, judicial administrator at FHBX, and Frederic Abitbol, judicial administrator at Abitbol & Rousselet, as practitioners in charge of supervising the implementation of the accelerated safeguard plans for their four-year duration.

The judgments may be appealed by the court-appointed administrators, the judicial representatives, the central social and economic committee of Distribution Casino France, the employee representative of the company and the public prosecutor.

The judgments may also be subject to third-party proceedings.

The company expects the financial restructuring to be completed on March 27, subject to approval by the France Markets Authority of the prospectus relating to the various securities issuances provided for in Casino's accelerated safeguard plan.

Casino is a food retailer based in Saint-Etienne, France. The company filed its Chapter 15 petition on Feb. 15 under case number 24-10252.

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