(CercleFinance.com) – Recylex announces that the Paris Commercial Court has ruled, by judgment of November 9, the conversion of the company’s receivership proceedings, opened by judgment of May 5, into compulsory liquidation proceedings.
This conversion follows the July 6 decision of the Paris Commercial Court to approve a partial disposal plan for Recylex as part of a pre-package disposal process for the benefit of the Belgian company Campine.
The judicial administrators considered that Recylex was clearly unable to draw up a draft recovery plan that would make it possible to meet its liabilities, and therefore seized the Court for the purpose of conversion into judicial liquidation.
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