The French-speaking Business Court of Brussels confirms the approval of the reorganization plan of Llama Group SA.
As a reminder, Llama Group SA asked the French-speaking Business Court of Brussels to open a judicial reorganization procedure by collective agreement with a four-month reprieve expiring on September 13, 2023. The opening of this procedure was approved on May 17, 2023 by the Court.
In this context, a reorganization plan was published and communicated to creditors on August 16, 2023 by Llama Group SA.
These same creditors voted on this reorganization plan on Wednesday September 6 during a hearing at the Court.
During this vote, the double majority in amount of debts and number of creditors necessary for validation of the plan was obtained.
In a judgment rendered this Wednesday, September 13, 2023, the French-speaking Business Court of Brussels confirms the approval of the reorganization plan of Llama Group SA. This reorganization plan provides, in particular, for a reduction in debt for an amount of approximately €5.7 million and a plan to repay this debt over several years.