White & Case advises ORPEA on Paris Court of Appeal proceedings against Autorité des Marchés Financiers’ decision

Global law firm White & Case LLP has advised the ORPEA Group on the appeals lodged before the Paris Court of Appeal by certain minority shareholders and creditors against the decision of the Autorité des Marchés Financiers (AMF) on May 25, 2023 granting an exemption to the group comprising Caisse des Dépôts et Consignations (CDC), CNP Assurances, MAIF and MACSF from the obligation to file a takeover bid for the Company’s securities. 

In its ruling of November 9, 2023, the Paris Court of Appeal confirmed the exemption authorizing the group comprising CDC, CNP Assurances, MAIF and MACSF to invest in ORPEA without having to launch a takeover bid.

The first of three successive capital increases under ORPEA’s accelerated safeguard plan is expected to take place in the next few days. 

White & Case has been advising ORPEA since 2022 in the implementation of its financial restructuring, which culminated in July 2023 in the approval by the Nanterre Specialized Commercial Court of an accelerated safeguard plan.

The White & Case team in Paris which advised on this litigation was led by partners Diane Lamarche, Saam Golshani and Séverin Robillard and included counsel Jean-Guillaume Meunier and associates Henri Veillon and Simon Martin-Gousset.

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