The CGG group announced, on 2 June 2017, that it has reached an agreement in principle with its main creditors and one of its institutional shareholders with respect to a financial restructuring plan which must be finalized and implemented in connection with a safeguard procedure opened towards its holding, CGG SA.

It is one of the largest financial restructurings carried out in France. It is also the first time that such a restructuring is simultaneously conducted in connection with the French and American judicial proceedings involving a safeguard procedure and Chapter 11 and Chapter 15 procedures.

De Pardieu Brocas Maffei advised the Committee of Senior Secured Lenders alongside the American law firm Kirkland & Ellis International LLP for the US Law aspects.