SNCM: justice Referring again its decision – Les Echos

The Commercial Court of Marseille rejected Wednesday the three takeover bids for the shipping company and launched a new call for applications.

After the time of suspense, the weariness is gradually walk in the settlement of the SNCM file. Deaf to the injunctions of the European Commission, which yesterday claimed it a quick judgment, the Tribunal de Commerce de Marseille rejected outright the three takeover bids supported by Christian Garin, Daniel Berrebi and Patrick Rocca. It has commissioned a new tender, the result will be examined after the return, on 25 September.

In support of its decision, appears particularly ‘poor deals “denounced for several weeks by the Committee of the company’s Enterprise. “ Funding uncertain ‘,’ transfer pricing paltry ‘,’ montages hazardous ‘,’ economically weak offer ” “ Account incomplete provisional results ‘,’ fanciful figures ‘,’ Lack of experience in shipping ” include, among others Among the arguments supporting the decision of the judges. “ The court considers that none of the three offers will present a serious guarantee of economic viability ,” he slice.

The letter of STEF Group

But it is above the input demand of new actors who the court decided to “ try a new tender to organize a sale in the best possible conditions .” On Monday, the STEF-TFE group, European specialist in cold logistics and owner of the South, co-delegate company with SNCM of Corsica service had requested “a reference to the end of September” judgment time to make a global offering which would take on the order of 800 employees for a sale price of between 15 and 20 million. A second letter of intent signed by eight Corsican companies representing a consolidated turnover of more than EUR 1 billion, also reached on the judge’s desk. The South is also understood that other offers could be submitted.

For the CFE-CGC union representative Pierre Maupoint Vandeul of this report “ is a new snub to those who want to bankrupt the company . ” The financial position of SNCM presented at the last hearing leaves time to stay: despite the collapse reservations (barely half of the issued 330,000 tickets were sold), this cash balance of the near 30 million euros, excluding the monthly settlement of DSP (€ 4.8 million).

This is not the opinion of Transdev, majority shareholder of the company. Referring to a recent letter from the Directorate General for Competition of the European Commission underlining “ difficulties ” that would raise a further postponement of the decision, the group believes “ that at least of recovery conditions could not be met in the fall, which then prevent any recovery and cause a complete liquidation of the company . ” He hoped that “ those steps last minute is not dilatory maneuver to prevent at any cost the implementation of a permanent solution .”

A good news is that the unions strike removed any prospect for this summer, which could raise (some) Reservations

Ships of the SNCM acted as mules to transport weapons and drugs

As if the economic woes of SNCM were not enough: on decay of background, the eight sailors Marseille company, including former deputy secretary general of the CFDT, are tried since yesterday (Wednesday) with 21 others for trafficking weapons and drugs in connection with the crime. The trade unionist responsible Camille Abboche believed to be the backbone of this organization is accused of having used his position to organize the “safe transport” of illicit goods to Corsica. It would have worn in particular its relationship to recruit couriers and have free access to the ports after the customs. Investigators have arrested and imprisoned in 2013 after two years of investigation, the suspect also to have had the planned assassination of two Corsican brothers known of justice. The trial is expected to last until July 3.