Buyers of credit default swap protection on bonds issued by Rallye, the holding company of French supermarket chain Casino, will find out on Friday how their positions might be settled, reports Owen Sanderson.

Permanent information. Universal registration document. First half financial report. Quarterly financial information. Report on corporate governance and internal control procedures. Rally is a form of motorsport that takes place on public or private roads with modified production or specially built road-legal cars.

It was ruled earlier this week that the company’s sauvegarde procedure was a bankruptcy credit event. Lenders to Rallye are set to appoint advisers on Friday, and law firms are said to be contacting bondholders about setting up creditor committees.

BNP Paribas

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, Crédit Agricole CIB, Crédit Mutuel-CIC,

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Casino has been informed by its reference shareholder, Rallye, of the launch of a safeguard procedure relating to respectively Rallye and its subsidiaries Cobivia and HMB, as well as Foncière Euris, Finatis and Euris as announced today by these companies.

These procedures do no relate to Casino group, nor its operations, nor its employees, and do not impact the ongoing execution of its strategic plan.

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Casino will hold a conference call tomorrow to comment this announcement at 8.00am (CEST / Paris).

Dial-in details:

• France Toll: +33 172727403 PIN: 21988143#
• United Kingdom Toll: +442071943759 PIN: 21988143#
• United States Toll: +1 6467224916 PIN: 21988143#

A transcript will be made available on the Group website.

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The trading of the shares for the above-mentioned listed companies will resume tomorrow at market opening.