Deveaux SAS, specialist in printed fabric for clothing, on Friday came out of the safeguard procedure in which he had placed himself in April, while he was under the threat of a fine of 44 million euros, a we learned from the company.
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Following a favorable decision from the Villefranche-Tarare (Rhône) commercial court, rendered on April 15, the textile company based in Saint-Vincent-de-Reins (Rhône) and the machinery dealer Fernando Puatto “Came closer”, Xavier Vahramian, lawyer for Deveaux SAS, told AFP. Under the threat of a fine of 44 million euros, in the context of a ten-year-old dispute, the specialist in printed fabric for clothing had obtained on April 13 its placement in safeguard proceedings. “A transactional memorandum of understanding was signed by the two parties at the beginning of the week, definitively putting an end to all the procedures between them”, clarified Mr. Vahramian. “This litigation being the exclusive reason for the safeguard placement process, the commercial court of Lyon was requested Wednesday to leave the Deveaux company from this procedure, which was decided today”, continues the lawyer.
Penalty of 1000 euros per day of delay
Deveaux SAS was initially to buy 84 new looms from Fernando Puatto and sell 54 second-hand ones to him. The Rhone company having subsequently changed its mind, was ordered in 2013 to deliver the promised trades, with a financial penalty of 1000 euros per machine and per day of delay.
Managed by Frédérique Von Tschammer, the daughter of Lucien Deveaux, Deveaux SAS was the only company in the group affected by the insolvency proceedings. Last year, it achieved a turnover of 27.4 million euros, which reached 59 million with its production subsidiaries based in Auvergne Rhône-Alpes.