Algeria’s richest man Issad Rebrab hit by French court’s Brandt receivership ruling

Algeria’s richest man Issad Rebrab hit by French court’s Brandt receivership ruling

A commercial court outside Paris has placed Brandt, the French home-appliance maker owned by Algeria’s Cevital, under judicial receivership, a move that freezes debts and keeps operations running while administrators look for a rescue plan. The decision hands Issad Rebrab — Cevital’s founder and long regarded as Algeria’s richest man — one of his toughest tests in Europe since buying the storied brand a decade ago.The Nanterre court opened the p…