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August Debouzy advised La Berrichonne de Châteauroux in its financial restructuring operation and secures its retention in National 1
Communiqué Restructuring Operations | 17/07/24 | 1 min. | Laurent Cotret Clément Quernin Tom Louis Myles Begley
On July 11, 2024, the Appeals Commission of the National Directorate of Management Control (DNCG) decided that La Berrichonne de Châteauroux, a historic and iconic French football club, will remain in National 1 Division for the 2024-2025 season. This positive outcome follows the club's successful appeal against an initial decision to relegate it to National 2 Division, made after a hearing on June 26.
Facing significant financial challenges, La Berrichonne de Châteauroux underwent major restructuring after being acquired by a new shareholder in January 2024. August Debouzy provided essential legal support during the acquisition and throughout the club's financial restructuring process.
Additionally, the firm was instrumental in preparing the appeal submitted to the DNCG which successfully demonstrating the club’s capability to remain in National 1 Division.
Founded in 1883 as a gymnastics association by Mr. Leune, a high school teacher, La Berrichonne de Châteauroux (LBC) introduced football in 1916. The club’s notable achievements include playing in the First Division during the 1997-98 season and reaching the Coupe de France final in 2004. With a rich history and multiple championships in lower divisions, the club continues to be a significant presence in regional and national football.
Its position in National 1 Division now secured, the club is eager for the 2024-2025 season, aiming to strengthen its squad, nurture emerging talents, and achieve top performances.
Laurent Cotret, a partner at August Debouzy, stated: “Our support has effectively addressed the challenges faced by this iconic club, showcasing our ability to blend legal precision with operational strategy in urgent situations.”
The August Debouzy team included partner Laurent Cotret, senior lawyer Clément Quernin, lawyer Tom Louis, who handled restructuring matters, and senior lawyer Myles Begley, who managed corporate aspects.