January 7, 2021

The Court of Milan gave its green light to the request received from Moby and Compagnia Italiana di Navigazione (Tirrenia) to postpone until the end of March the expiring date for submitting a debt restructuring plan to be submitted to bondholders and banks.

The first expiring date was 28 October 2020 and was already prolonged for two months but now the Onorato-controlled group obtained from the court a further three months thanks to a recently approved law related with the Covid-19 measures to support companies based in Italy.

Some sources revealed to Ferry Shipping News that one of the two alternative options informally submitted to the creditors by Moby’s top management would foresee the set-up of a newly built vehicle company in which some ferries bound for sale would be transferred.