The commercial court of Évry has opened judicial reorganisation proceedings against the company Global Bioenergies. The decision follows a pre-pack disposal process initiated in June, aimed at preparing for a potential asset sale. The law firm SCP Abitbol & Rousselet has been appointed to oversee the proceedings, represented by Maître Joanna Rousselet, previously conciliator during the pre-pack phase.
Four partial takeover bids under review
Four partial takeover offers for the company’s assets have been submitted to the court. These remain subject to suspensive conditions, which must be lifted before the scheduled hearing to examine them. No full buyout proposal or direct equity investment in the company has been officially submitted to date.
These bids may evolve in the coming weeks, depending on ongoing discussions with potential acquirers. The continuation of certain activities and the preservation of jobs will depend on the viability of the proposed disposal plans.
Risk of judicial liquidation and cancellation of market value
In the absence of a definitive offer or a viable disposal plan, a judicial liquidation procedure will be automatically triggered following the hearing. This outcome would result in the company being dissolved as a legal entity and the delisting of its shares.
In the event of liquidation, the management expects the residual value of Global Bioenergies shares to be null. Proceeds from any asset sale, if it occurs, are anticipated to fall short of the company’s liabilities, leaving shareholders without any return.
