Europcar restructuring puts state-backed loan in firing line

Europcar adobe stock 575x375
By Owen Sanderson
08 Sep 2020

Europcar will be a test case for the treatment of government-guaranteed loans during a restructuring, as the French car rental company was among the earliest and largest users of the French state’s corporate support scheme.

Europcar announced on Monday that it had hired Rothschild as a financial advisor and would be seeking the appointment of a mandataire ad hoc and/or a conciliateur — court-backed advisory appointments that imply it is seeking a consensual approach at first rather than the creditor protection available under ...

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