Clifford Chance
Coeur Défense: what's new?
31 March 2011
An update of the landmark case after the recent decision of the Cour de Cassation
On 8 March 2011, the Cour de Cassation, the French Supreme Court, has
quashed the decisions dated 25 February 2010 of the Paris Court of Appeal that
had nullified the opening of safeguard proceedings in relation to Heart of La
Défense SAS ("Hold SAS") and its sole shareholder Sàrl Dame Luxembourg
("Dame Lux").
The safeguard proceedings of these two companies, which were initiated in
November 2008, are therefore reinstated. However, another litigation, initiated
by the appeal of the Public Prosecutor against the safeguard plan restructuring
the debts of Hold SAS and Dame Lux, is still pending and will now be heard by
the Paris Court of Appeal.
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