Paris, France – December 21, 2017
CGG announces that by an order issued today in CGG’s Chapter 15 Case, the US Bankruptcy Court recognized the ruling of the Commercial Court of Paris dated December 1st, 2017 approving its safeguard plan. The US Bankruptcy Court’s order gives full force and effect to the French Court’s approval ruling and prohibits CGG’s creditors from taking any action inconsistent with the safeguard plan in the United States. This order marks the final US in-court milestone before the financial restructuring of the CGG group that is to take place by February 28, 2018 can be implemented.
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