Athens court rejects Folli Follie request for temporary protection from creditors
An Athens first instance justice on Monday rejected Folli Follie’s motion for temporary protection from creditors, with the beleaguered Greece-based retailer and accessory maker now facing the prospect of judicial challenges for its assets.
The specter of an unstructured bankruptcy is now, theoretically, a possibility.
With the court ruling, FF Group’s management and legal team must work out an agreement with creditors and seek financing for a restructuring plan.
A group representing investors in the country has already filed and received a first injunction against FF, ordering a temporary freeze of assets totalling 2.5 million euros.
You may be interested
EU order for Apple to pay €13bn tax bill to Ireland “defies reality and common sense”Panos - Sep 19, 2019
The European Union’s order for Apple to pay €13bn in back taxes to Ireland “defies reality and common sense”, the…
Next for Turkey? Nuclear Weapons!Panos - Sep 19, 2019
During the 17 years he has ruled NATO-member Turkey, the country’s Islamist strongman, President Recep Tayyip Erdoğan, has rarely missed…
Archaeologists unearth amazing 3,200-year-old sword at a Bronze Age site in SpainPanos - Sep 19, 2019
Archaeologists working on the Spanish holiday island of Majorca (Mallorca) have made a surprising discovery. They came across a 3,200-year-old…