CGG: The Commercial Court of Paris approves the safeguard plan and dismisses the claims of certain holders of CGG's convertible bonds
CGG (CGG)
US:NYSE Investor Relations:
cgg.com/investors
Company Research
Source: GlobeNewswire
The Commercial Court of Paris approves the safeguard plan and dismisses the claims of certain holders of CGG's convertible bonds Paris, France - December 1, 2017 CGG announces that today the Commercial Court of Paris approved the safeguard plan of CGG, after finding the claims filed by certain holders of CGG's convertible bonds against this draft plan inadmissible. The next procedural step of CGG's financial restructuring is the hearing scheduled on 21 December 2017 to consider the motion for the recognition of the ruling approving the safeguard plan by the competent US Bankruptcy Court within the context of the Chapter 15 proceedings. Subject to in particular a favorable decision by the US Bankruptcy Court, the rights issue with preferential subscription rights and allocation of free warrants to shareholders are expected to be launched in mid-January, with the settlement and delivery of the various securities issuances provided for under the restructuring plan ex
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