Real estate developer Gérald Hibert faces a new legal obstacle
Real estate developer Gérald Hibert is currently going through a difficult period. Recently, the Brussels Enterprise Court made an important decision regarding his group, the GH Group. The court rejected his request for judicial reorganization proceedings (PRJ), which complicates the company's financial situation.
The PRJ is a legal measure that allows a company in difficulty to temporarily protect itself from its creditors, such as banks, in an attempt to relaunch itself. However, the court ruled that the GH Group's request was inadmissible. This decision is a major blow to the developer, who was hoping to gain time to stabilize his finances and protect his assets.
This court decision has direct consequences for the group's future projects. Indeed, a major refinancing agreement with the company Revetas is now under threat. Without legal protection, it becomes much more difficult to convince financial partners to continue supporting Gérald Hibert's real estate projects.
Despite this setback in court, the GH Group does not intend to give up. One of the group's lawyers, Me Yves Brulard, has already announced that an appeal will be filed shortly. The legal battle between the developer and the banking institutions will therefore continue, leaving the future of the company still uncertain for the time being.