McPhy Energy announces the opening of a judicial reorganization
McPhy Energy (“McPhy”) announces the opening of a judicial reorganization (redressement judiciaire) as of 4 June, 2025 by the Belfort Commercial Court (the “Court”)1.
In this context, the Court has appointed:
- SCP Abitbol & Rousselet, represented by Maître Joanna Rousselet (formerly the Court-appointed conciliator (concliateur) for the Company2), as judicial administrator (administrateur judiciaire) with an assistance mission; and
- Maître Flavien Marchal, as creditors’ representative (mandataire judiciaire).
The opening of this judicial reorganization follows the conciliation proceedings opened on April 10, 2025, and the call for tenders under a takeover plan launched during that process3, as a result of which McPhy received notably an offer for certain assets and activities from a European industrial player.
In this context, a new deadline for the submission of offers has been set for June 13, 2025 (noon) to allow any interested party to submit an offer for whole or part of the assets and activities of McPhy. The Court has set the hearing to review the offers received before the expiry of that deadline (including the above-mentioned offer) for June 24, 2025 (3 p.m.).
In absence of an offer or in the event of a disposal plan for the assets and activities of McPhy by one or more acquirers is implemented, liquidation proceedings will be opened against McPhy (and any assets or activities not transferred) at the end of the judicial reorganization. This liquidation will ultimately result in the delisting of McPhy’s shares, it being understood that their residual value is likely to be nil, given the anticipated level of asset realization compared to the Company’s liabilities4.
Concurrently, proceedings to prevent or resolve difficulties concerning McPhy’s subsidiaries have been initiated in Germany5 and Italy6. Expressions of interest have already been received for some of the assets of these two entities.
McPhy will keep the market informed of developments related to the judicial reorganization proceedings.
Postponement of McPhy Shareholders’ Meeting
Given the current circumstances and the ongoing proceedings involving McPhy, it has been decided to postpone the Annual Shareholders General Meeting, initially scheduled for June 17, 2025, to a later date7. The new date of such Meeting will be announced as soon as it is determined.
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McPhy Energy announces the opening of a judicial reorganization, source
