Paris-based Cyber Group Studios has entered the judicial recovery process, a form of legal protection that’s implemented after a French company becomes insolvent.

Cyber Group released a legal notice on Tuesday announcing that the Paris Commercial Court had started this process on October 31. The court has determined that the studio’s “cessation of payments”—meaning it can no longer pay back its outstanding debts due to its lack of cash and liquid assets—began on October 22, 2024. 

As per standard liquidation proceedings, the court has granted Cyber Group a six-month observation period—which will last until April 30, 2025—during which time it can either recover its financial footing and keep the business going, or completely liquidate it in order to repay creditors. 

If creditors have outstanding claims against the company, they have two months after the notice was originally filed to submit them to the court’s representatives for consideration of payment. Two representatives have been appointed to oversee Cyber Group’s recovery process: Eric Bauland of BCM and Valérie Leloup-Thomas of MJA, who both specialize in judicial recovery. 

Cyber Group signaled that it was facing possible financial trouble near the end of October, when it filed a KBIS Extract providing a snapshot of its current status to the Paris Commercial Court. In that document, it indicated that its equity (total value) has dropped below 50% of its share capital (the money raised from selling shares). 

Pictured is Cyber Group’s flagship animated series Gigantosaurus.