The creditors of Run Market supermarket chain owner Make Distribution announced that they have just reached an agreement in principle to support the proposed recovery plan agreed between SAB, the Réunion-based shareholder of Make Distribution, and Mauritius group IBL Ltd on October 13, 2022. This agreement in principle allows the supermarket chain to avoid bankruptcy proceedings that would have been detrimental to all the creditors and the company in general, and to its 681 employees in particular.
A formal agreement is expected to be submitted to the Commercial Court of Saint-Denis for approval.
The Franklin team advising IBL Ltd is composed of:
- Partner Numa Rengot, assisted by associates Pierre Dupuys, Emilie Gassier and Marouan Fawzi, on corporate and restructuring aspects,
- Partner Lionel Lesur assisted by associate Victoria Eppendahl, on competition law aspects,
- Partner Myriam de Gaudusson, assisted by associate Amélie Nisio, on labor and employment aspects,
- Partner Jacques Mestoudjian, assisted by associate Rudy Marouani, on tax law aspects.
IBL Ltd is also advised by the firm Advance Capital (partner Henri Calef, senior manager Pauline Oriot, manager Philippe Besse, and Sarah Calef) on financial aspects.
SAB is advised by Jean-Francis Cheung-Ah-Seung and Benoît Huet, attorneys-at-law.
The banks are advised by De Pardieu Brocas Mafféi partner Ségolène Coiffet, assisted by associate Guillaume Petit.
