The noose is tightening on the assets of Michel Ohayon. On January 25, the Commercial Court of Bordeaux placed in receivership three companies of the Financière immobilière bordelaise (FIB) – property of the businessman – which financed the acquisition or operation of the Waldorf Astoria Trianon Palace hotels in Versailles, a 5-star establishment next to the castle, Sheraton in Roissy, located in Roissy – Charles-de-Gaulle airport, and Intercontinental Le Grand Hôtel in Bordeaux, a luxury establishment located on the Place de la Comédie, a renowned address for the Gironde capital.
This procedure was requested by the Chinese bank Bank of China, which had granted the entrepreneur three loans of around 50 million euros each. In their judgment of January 25, concerning the establishment of Versailles, acquired in 2014, the judges note that“no refund” has not been carried out for a “loan of 56 million euros”. The contract in question expired on January 26, 2022, more than a year ago.
Liquidation risk
In view of “the news of the receivership of the Go Sport group” – brand owned by Hermione People & Brands (HPB), a company itself owned by the FIB -, under collective proceedings since January 19, 2023, the banking establishment has taken the bull by the horns. His advisers first launched a cessation of payments procedure, before requesting the opening of this receivership procedure in the alternative. “We had to stop the costs”notes a relative of the creditor.
During the proceedings, representatives of the FIB argued that it “has a substantial real estate portfolio, the sale of which is in progress in order to allow reimbursement”. However, the judges ordered receivership for each of these three holding companies. Christian Caviglioli, legal administrator in Toulouse, was appointed to set up a reimbursement plan. Otherwise, the companies risk liquidation.
Other land employees worried
These procedures only concern borrowing holding companies. They do not relate to the operating companies of the three hotel establishments. The Sheraton employs around 190 people. In Bordeaux, Le Grand Hôtel, affiliated with Intercontinental, has 250 employees. And in Versailles, the Waldorf Astoria palace employs 200 people.
Asked by The world on the receivership of these companies, the HPB spokesperson refused to comment on this information, for lack of a communication mandate for the FIB, and transmitted our request to Mr. Ohayon.
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