Orpea Blocks Bid by Mediobanca, Shareholders to Halt Debt Revamp

Embattled French care-home operator Orpea SA defeated an effort in court by some of its lenders and minority shareholders to suspend the company’s debt restructuring.

The Nanterre Commercial Court on Friday rejected the request by shareholders Mat Beaune Immo and Nextstone Capital and some creditors including Mediobanca SpA, according to a court document seen by Bloomberg News.

Orpea received court approval in October to start an amicable procedure, known as a conciliation process, aimed at renegotiating its debt with creditors. It is the second such procedure in less than five months after the first one fell short of fixing its ...