The Commercial Court of Paris has published its judgment on the sauvegarde proceedings of the Rive Défense borrower in Rivoli Pan-Europe 1, according to a notice from the issuer.

The issuer notice includes an unofficial English translation, for which it assumes no responsibility, of the judgment. The original can be found here, by using the case number 2013032906 and paying a small fee.

As reported, the sauvegard plan comprises a three year extension with UBS remaining as asset manager and using up to EUR 9m of SFR's surrender premium to refurbish the property.

Weil Gotshal & Manges was legal advisor to Rive Défense and UBS, while First Growth FGREF was financial advisor. Freshfields and Aramis advised Credit Agricole, CMS Bureau Francis Lefebvre advised Aareal, Hogan Lovells advised the shareholders, and Fairway advised the mezzanine lenders.

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