EuropaCorp Films USA, the U.S. arm of Luc Besson’s Paris-based company, has been granted a six-month debt waiver from a French commercial court.
Parent company EuropaCorp has already been on a six-month debt waiver since May, and the protection is supposed to come to an end in late November. A source close to the company said the debt waiver would likely be extended in order to allow EuropaCorp to complete its restructuring plan. Listed on the Paris stock market, EuropaCorp is currently in negotiations to be taken over by the New York investment fund Vine Alternative Investments, its junior lender.
The waiver for EuropaCorp Films USA has taken several months to be granted by the French court because it’s a company established in the U.S., according to a company spokesperson, who said the waiver was chiefly an administrative procedure since EuropaCorp Films USA doesn’t have any assets.
Parent company EuropaCorp has already been on a six-month debt waiver since May, and the protection is supposed to come to an end in late November. A source close to the company said the debt waiver would likely be extended in order to allow EuropaCorp to complete its restructuring plan. Listed on the Paris stock market, EuropaCorp is currently in negotiations to be taken over by the New York investment fund Vine Alternative Investments, its junior lender.
The waiver for EuropaCorp Films USA has taken several months to be granted by the French court because it’s a company established in the U.S., according to a company spokesperson, who said the waiver was chiefly an administrative procedure since EuropaCorp Films USA doesn’t have any assets.
- 10/22/2019
- by Elsa Keslassy
- Variety Film + TV
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