Bigben Interactive has called creditors and shareholders to vote on a draft restructuring plan, creating a decision point for its debt and proposed capital operations.
Bigben released the draft Nov. 2 and says amendments remain possible until 10 days before voting. The affected creditor and shareholder classes will consider one resolution: whether to approve the accelerated safeguard plan.
The formal notice in France’s Bulletin des Annonces Légales Obligatoires lists bondholders in Class 2. It schedules an electronic vote from 6 p.m. ET Nov. 11 through 5:59 p.m. ET Nov. 23. Approval requires two-thirds of votes cast, with no quorum.
That notice conflicts with Bigben’s announcement, which calls bondholders Class 3 and says they will vote by correspondence. The formal notice assigns Class 3 to syndicated-loan lenders and specifies electronic voting for bondholders, leaving the discrepancy unresolved.
Shareholders are listed as Class 7 and may vote online, by post or by proxy. Their meeting is scheduled for 3 a.m. ET Nov. 24 (9 a.m. CET) at Bigben’s headquarters in Fretin, France. Online voting runs from 6 a.m. ET Nov. 12 to 9 a.m. ET Nov. 23; mailed ballots must arrive by 5:59 p.m. ET Nov. 21. Approval also requires two-thirds of votes cast.
The court opened accelerated safeguard proceedings for Bigben on Aug. 17 as part of the restructuring. The company said its Aug. 4 outline focused on financial debt and would not affect relations with suppliers or employees. As of March 31, 2026, Bigben reported €167.9 million in consolidated net debt, including €59.1 million in bond debt, and negative consolidated equity of €55.8 million.
Existing shareholders could face substantial dilution under the proposed capital operations. Bigben’s Oct. 16 illustration showed a holder with 1% who did not subscribe to a rights issue falling to 0.01%, assuming only guarantors subscribed. The Lille Métropole Commercial Court is scheduled to examine the plan Dec. 9. Bigben projects that restructuring will conclude by March 31, 2027, after the plan is adopted.
