Grimaldi filed an opposition to the approval of Moby’s financial restructuring plan

By 3 February 20232023 Newsletter week 5
February 3, 2023

A statement from Moby published on the Luxembourg Stock Exchange [] announced that competitor Grimaldi Euromed filed an opposition in the Court of Appeal to the approval of the Moby creditor’s composition plan “with an action once again aimed at preventing the continuation of the composition plan approved with the positive vote expressed by approx. 90% of Moby creditors and homologated by the Court of Milan on November 24, 2022.”

This new action is being brought by Grimaldi “despite the fact that the Court of Milan has

rejected in its entirety the previous opposition to the homologation, even declaring it unfounded, condemning Grimaldi to pay the judicial costs,” Moby stated.

The next hearing in front of the Court of Appel will be held on 2 March 2023.

The Vincenzo Onorato – controlled company concluded by saying: “Against this further legal action brought by Grimaldi, already rejected in the first instance, the Company is evaluating in appropriate legal venues any legal action aimed at defending its restructuring plan and the work of its employees.”