Darrois Villey Maillot Brochier advises the Financière Turenne Lafayette Group

Darrois Villey Maillot Brochier advises the Financière Turenne Lafayette Group in the “prepack sales” of the Charcuterie / Salaison division (Madrange, Montagne Noire, Paul Prédault and La Lampaulaise de Salaisons) and the Pâtes Fraîches division (Tradition Traiteur and Pâtes Fraîches Luison)

Darrois Villey Maillot Brochier advised the Financière Turenne Lafayette group in the “prepack sale” of the assets of the subsidiaries as a result of conciliation proceedings and subsequent bankruptcy insolvency proceedings in respect of various companies in the Financière Turenne Lafayette group (FTL).

Pursuant to a decision dated June 13, 2017 the Paris Commercial Court adopted the plan for the sale of the assets of Tradition Traiteur and Pâtes Fraîches Luison for the benefit of Pastacorp (Lustucru and Rivoire & Carret). As a result of this judgment, the Paris Commercial Court also ruled on June 15, 2017, the plan for the sale of the assets of Madrange, Montagne Noire, Paul Prédault and La Lampaulaise de Salaisons for the benefit of the cooperative company Cooperl Arc Atlantic, France’s leading producer of swine.

These disposals follow the discovery of financial frauds and accounting irregularities by the group, which was previously headed by Ms. Monique Piffaut, who died in November 2016. The transactions secure 100% of jobs attached to the Charcuterie / Salaison and Fresh Pasta divisions, representing more than 1,600 jobs.

In January 2017, the FTL group benefited from a cash injection of € 66 million, of which € 12.65 million contributed by the French State and € 53.35 million provided by 17 banks of Financière Turenne Lafayette, in order to ensure the short-term financing needs of the group.

The DVMB team consisted of François Kopf (Partner), Mathieu Della Vittoria and Colin Marvaud in restructuring, Emmanuel Brochier (Partner), Martin Lebeuf (Partner) and Mathilde Sollier in finance, Vincent Agulhon (Partner) in tax, Olivier Huyghues Despointes (Partner), Christophe-Marc Juvanon and Alix de Montchenu in corporate, and Igor Simic (Partner) and Elise Maillot in competition.