|
contents | business | |||||||||
| Orco announces court decision Orco Property Group S.A., real estate investor and developer in Central and Eastern Europe, and its subsidiary Vinohrady S.A.R.L. announce that the Paris Commercial Court decided to extend the observation period for the Procedure de Sauvegarde by three months until 25 June, 2010. Orco is currently finalizing its Sauvegarde plan which should be circulated among creditors at the end of March 2010. The Court will decide at its sole discretion whether to approve Orco's proposed Sauvegarde plan. Throughout the extension until 25 June, 2010, Orco will remain subject to the Procedure de Sauvegarde rules. The Company plans to communicate to the public on its Sauvegarde plan at the same time as its annual 2009 audited accounts on 30th March 2010. write your comments about the article :: © 2010 Construction News :: home page |