LONDON (Reuters) – Two creditors of France’s Orpea have filed an application in a U.S. court against another creditor and the creditor’s financial adviser to obtain and use documentation related to the care home operator’s French legal proceedings, a source close to the situation said.
Orpea creditors Kyma Capital and LMR Partners lodged on Tuesday an application against Anchorage and PJT Partners in the U.S. District Court for the District of Delaware, the source said.
Anchorage is a member of Orpea’s steering committee, a group of unsecured creditors that is supporting a proposal to restructure the French group’s debt. PJT Partners are advisors to the steering committee.
Kyma Capital and LMR Partners argue that the restructuring deal benefits the steering committee at the expense of other creditors, and that the documents would back up their view.
Anchorage, PJT Partners and Orpea did not immediately respond to requests for comment.
Orpea, which was hit by allegations of malpractice at its care homes and a sharp drop in valuation, in February announced an agreement in principle with state financial institution Caisse des Depots & Consignations (CDC) and other investors to restructure its debt.
(Reporting by Chiara Elisei, editing by Kirsten Donovan)
