(CercleFinance.com) – Néovacs announces the closure, 8 years ahead of the schedule set by the Paris Commercial Court, of the recovery plan implemented in May 2020.
This exceptional decision was taken by the Commercial Court of Paris after Néovacs had paid in full all of the installments set within the framework of the recovery plan.
Néovacs recalls that under the terms of the decision to take over the company by HBR Investment Group, the declared liabilities were approximately 20.4 ME. After an agreement with creditors, the liabilities remaining to be cleared were nearly 3.3 ME. This last amount was paid in advance by Neovacs, thus allowing the exit from the plan.
For Hugo Brugière, CEO. of Néovacs, ‘it’s a page that turns’ for the company. ‘We are leaving behind us the mistakes of the past which had led the company to declare itself in cessation of payments and to consider a pure and simple liquidation’, he concludes.