With the restructuring going through the last phases of the process, we have shelved the name. As part of the accelerated safeguard plan, Orpea have

Never mind its balance sheet woes, we have always struggled with the underlying business and the H1 results underline that. Occupancy rates increasing in all geographical areas (except France where it was down to 83.4% from 84.6%) weren’t enough to absorb the

Orpea continue their strategy to reduce asset ownership to a target level of 20-25% of operated assets in the medium term.  Orpea entered into a new

Orpea have drawn a further €200m under the new financing agreement.  We are surprised that the Company feels the need to report this as this was

Orpea released H1 revenue and Occupancy data across the Group this morning, coupled with an announcement of two sale-and-lease-back

The Nanterre Court has approved the accelerated safeguard plan by way of cross-class cram-down. Orpea has previously disclosed the voting, with six of the ten classes of

The company has asked the court of Nanterre to approve its Sauvegarde plan via X-class cram down - and to effectively ignore the appeals court’s earlier

The Nanterre Commercial Court has extended the accelerated safeguard procedure for a further two months, until 24th July 2023. In addition, Orpea have

The company has refused a recent request from a group of shareholders for a General meeting.  The shareholders had requested the ability to appoint

On Friday, Orpea entered into an Accelerated Safeguard procedure, in order to implement its restructuring plan. Note that the time is limited to a maximum of 4 months, with

Orpea have clarified the structure of the previously announced additional facilities and reconfirmed the annual cash sweep mechanism based on disposals. This is a

Orpea have reached their long stop date of 10th March, and as of that date, 51% of unsecured creditors have acceded to the restructuring plan. Therefore, as planned,

Following on from Monday’s announcement, Orpea’s banking group have an agreement in principle relating to additional financing for Orpea. These include an

Orpea’s main banking partners, the providers of additional financing, have aligned with the proposed restructuring plan of the Company, namely making it a condition that the

Dorian Lowell from Gleacher Shacklock held an open conference call yesterday discussing alternative options to the current Orpea restructuring proposal. This is part of the Unsecured Creditors Negotiating Group (UCNG) and ultimately they are

The Conciliation Procedure has been extended for an additional one month at the request of the Conciliator (Madame Bourbouloux) to 25th March. Note it is

As outlined in Orpea’s statement when confirming the signature of the lock-up agreement, Orpea have commenced discussions with secured lenders of

And we finally arrive at the next stage. Orpea announced the signature of the lock-up agreement for the financial restructuring plan, along the lines

Orpea released its FY22 revenue numbers as part of a wider statement this morning, which is in line with the guidance previously given. In addition to the