Folli Follie Group said that negotiations between the company and its creditors are ongoing, unhampered and intensive, aiming to achieve a viable agreement.
In an announcement, FF Group said the company will revert with a further update for any new development regarding these negotiations.
In an announcement to Hellenic Capital Markets Commission, FF Group said that as it had already announced on November 15, the request for a provisional order was rejected by an Athens court, which set January 22 as the hearing date for the application of protective measures.
“The company would like to clarify that through the above-mentioned decision, the Judge of the Athens Single Member Court of First Instance did not reject the application for the granting of interim protection of the Company from its creditors. Importantly, it was only the request for interim protection that was rejected. The Company points out that the reports which refer to a ‘rejection of Folli Follie’s application for the granting of interim protection from its creditors’ or to a ‘rejection of Folli Follie’s application under the Article 106a of the Bankruptcy Code’ are inaccurate,” FF Group said in a statement.
In addition, it said that it confirmed that on November 15, “a request by 56 investors for the granting of a provisional order, was heard before the Athens Single Member Court of First Instance, in terms of a provisional-seizure application by the above investors against the Company, shareholders, executives and auditors thereof. The Court upheld the request for the granting of a provisional order and temporarily prohibited the modification in the factual and legal status of the defendants up to the amount of 2,300,000.00 until the formal hearing of the above application (which was set for 22/01/2019),” FF Group said.