Lender wins appeal against €573m restructuring debtor

By Lucia Osborne-Crowley (February 4, 2022, 4:54 p.m. GMT) – The Court of Appeal ruled on Friday in favor of a lender that provided 573 million euros ($656 million) to Cassini in the insolvency litigation, finding that the entertainment giant’s obligations under the loan agreement can be performed under French law.

A three-judge panel upheld the trial court’s finding that Emerald Pasture DAC, which had loaned Cassini €573 million, was entitled to enforce obligations under the loan agreement which required the trade show giant to provide detailed information on its financial health.

The Court of Appeal ruled that High Court Judge Philip Kramer took the correct approach when he found that the…

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