Ceetrus, the Auchan real estate company, ordered to pay more than 47 million euros to the SNCF

The Paris commercial court sentenced, Friday September 22, Ceetrusthe Auchan property company, to pay more than 47 million euros to SNCF as part of one of the disputes between the two companies since SNCF broke, in September 2021, the contract to modernize the Gare du Nord that it had concluded with Ceetrus.

The real estate company, which has become New Immo Holding, will have to pay the company SNCF Gares et Connexions the sum of 47 million euros, “in execution of the independent guarantee on first request”as well as interest, according to the judgment with “provisional execution” consulted by Agence France-Presse.

“Building on this first favorable decision, SNCF Gares et Connexions intends to continue the ongoing proceedings at the administrative court aimed at obtaining compensation of 300 million euros from Ceetrus”, announced this company of the SNCF group. It is “a first significant legal victory in [le] dispute with Ceetrus over the Gare du Nord »she congratulated herself.

“Serious failures”

The SNCF had abandoned its ambitious but contested expansion project for this station, which, with 700,000 travelers per day, is the busiest in Europe. She thus denounced the renovation contract linking her to Ceetrus, citing lack of control of the project, soaring costs and very significant delays.

Accusing the Auchan property company of “serious failure”the SNCF had criticized him “unbearable deviations from commitments”, with the tripling of the cost of the work (for a total of 1.5 billion euros) and delays. Ceetrus, for his part, had accused his ex-partner of lacking ” loyalty “.

This work was to significantly expand the station in anticipation of the 2024 Olympic and Paralympic Games in Paris. The renovated station was to house new businesses.

Chosen in 2018, Ceetrus signed the contract at the beginning of 2019. A lighter version of the project was then validated in November 2020, but all of the work could not be completed in time for the Games.

Since the final abandonment of the project, the SNCF has launched much more modest developments at the Gare du Nord, amounting to 50 million euros. This work must be completed in April 2024.

The World with AFP

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