Appeals court confirms Recylex position


The Franco-German lead and zinc producer and recycler Recylex will not have to take on liabilities of up to €50m incurred by its former subsidiary Metaleurop Nord SAS. The company reported on Wednesday that the Douai Court of Appeal had upheld a first-instance court ruling rejecting creditors' payment claims and holding that Recylex SA was not the de facto manager of Metaleurop Nord.

The liquidators of Metaleurop Nord, who intiated the proceedings, now have two months to review the possibility of launching a final appeal at the Cour de Cassation, the highest court in the French judiciary. Metaleurop Nord operated a lead and zinc smelter in Noyelles-Godault in Northern France until its liquidation in 2003.

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