Why Gérard Lopez has a personal stake in avoiding Bordeaux’s liquidation | OneFootball

Bordeaux’s reinstatement to the national leagues will be decided on Wednesday, and Gérard Lopez has much at stake if liquidation looms.

According to L'Équipe, the DNCG appeal commission will hear the case at 10:15, after the federal commission expelled the club from all national competitions on 30 June. Bordeaux must show that nine to 10 million euros are in escrow to fund next season, debts included, and cover the forecast deficit. Otherwise the sanction would stand and liquidation could threaten.

Since Thursday nine July, many reports say Lopez is unwilling to add funds. Even so, he has an interest in avoiding liquidation, either by contributing after all or stepping aside to ease investors’ arrival.

In the commercial court ruling that approved the continuation plan, Lopez pledged to cover the plan’s reduced liabilities, 26 million euros after a write-down from an initial 94 million.

If the club stay in regional leagues under the Ligue de Nouvelle-Aquitaine, continuing that plan would be complicated. The plan’s commissioner, the CEP, would almost certainly ask the commercial court to start its resolution, meaning early termination.

A liquidator would then be appointed. After selling assets, including about 20 trademarks registered with the INPI, the liquidator could seek a sanction for mismanagement.

If granted, Lopez could face up to 15 years barred from managing, directing, administering or controlling a company in France. He could also be required to settle from personal funds all or part of the remaining liabilities, less sums already paid and asset-sale proceeds.

Source: L'Équipe