The prosecutor asked the Commercial Court of Marseille, which was examine SNCM recovery offerings, “extend the bankruptcy” of the shipping company in difficulty until the end of September (AFP / File / Boris Horvat)
While the court trade Marseille had to consider the takeover bids for the shipping company SNCM, criticized from all sides, the prosecutor made a surprise Wednesday calling for the extension of the receivership to overhaul the case.
This was to be the decisive hearing during which the firm offers three recovery of the company into receivership on 28 November, have been studied. But it was cut short: after a first part of hearing of the creditors, the court “refused to hear the offers” potential buyers, told me Christine Bonnefoi, lawyer of the works council of SNCM, the exit.
The prosecutor of Marseilles Brice Robin, meanwhile, asked the court to extend the observation period and organize a new call for applications for the recovery of the company, while giving appointment in September to an analysis of these deals, they appear “unsatisfactory” in the state. The decision was taken under advisement “within two weeks”, stated the lawyer and the prosecutor
This analysis parquet echoed those of administrators and unions. In their report made to the court, the administrators had blasted offers “particularly unsatisfactory.”
The proposals ranged from 500 employees taken on 1500 CDI currently in the offer of Patrick Rocca Corsican entrepreneur and 700 to 800 in those of the former director of the port of Marseille and Christian Garin Baja Ferries group Daniel Berrebi.
Some provide selling boats to finance or adoption of a Community flag for Mr. Berrebi socially less restrictive.
The investors “have not justified their financing (…) and they maintain all of the major conditions precedent,” stressed the administrators.
– Spending the summer in receivership –
Among these, the most important concerns the public service delegation (PSD) of the service between Corsica and the mainland, and more than 400 million euros of public aid decided by Brussels wrongly received.
The candidates all wanted to be sure not to have to repay these amounts as required by the European Commission, which was the official target of Transdev shareholders (66%) and the state for the receivership. According to their analysis, the creation of a society sufficiently different to Brussels Eye for an “economic disruption” was intended to overcome these convictions.
Now, say the administrators, “services (…) the Commission told us continue to consider that any resumption of DSP by a buyer would be inconsistent with their approach to economic discontinuity. “
The directors also highlight the commitment Insufficient shareholders on financing the social, which creates a risk of cancellation social enterprise and the weak “financial capacity” of potential buyers.
The EC had elected to share approved Tuesday unanimously unfavorable opinions to three offers.
In all three cases, assured staff representatives, “economic discontinuity is not guaranteed nor validated by a decision of the European Commission “.
The elected staff also denounced three offers which” include (s) no guarantee for employment “with a number of employees kept” low “.
Prices assignment were also deemed too low (€ 3 million for Mr. Rocca 5,000,000 for Mr. Berrebi and 12.25 million for Mr. Garin), even if the offers do not wear whenever necessarily the same assets .
“We now await the decision of the court,” responded the president of the company, Olivier Diehl, at the exit of the court.
If the court follows the submissions of Attorney SNCM will spend the summer – the peak tourist season during which the company normally makes most of its revenues (213 million in 2014) – in receivership. “At the moment, we have reservations,” assured Mr. Diehl.
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