The court on Tuesday supported the rescue plan for the Girondins, passed with its creditors.
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Good news is rare these days for the Girondins de Bordeaux. The club obtained Tuesday, July 19, a judgment of approval of their rescue plan from the Commercial Court of Bordeaux. This decision strengthens the file of President Gérard Lopez before his appearance before the French National Olympic and Sports Committee (CNOSF), Thursday at 2 p.m., to try to have the administrative demotion of Bordeaux canceled in National 1 (3rd division).
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In this document, which AFP has read, the court records the agreements made by the Girondins and its creditors King Street and Fortress. It thus puts an end to the conciliation procedure opened on 13 June.
This judgment relates to three points: a capital increase of 10 million euros via the company Jogo Bonito of the owner Gerard Lopez, the restructuring of the debt by abandonment of 75% of it by the American creditors (of 53 million euros to 13.5 million euros) and finally the sequestration of 14 million euros as a guarantee if the sales of players planned during the summer transfer window were not carried out.
If the decision of the CNOSF, expected at best on Friday evening, is favorable to the Girondins, it must then be validated by the Executive Committee (Comex) of the French Football Federation (FFF). The latter should meet on July 25, five days before the first day of L2. If Bordeaux does not get the green light from the Comex, they can file an interim order in suspension with the Administrative Court.