September 20, 2019

Moby Group In Legal Confrontation With The Bondholders

A legal conflict between Moby Group and the bondholders has just started.

A investors statement from the Milan-based ferry company says that “Moby S.p.A. has instructed legal counsel to defend it in insolvency proceedings brought before the Court of Milan by a number of claimants who have identified themselves as holders of an unspecified principal amount of Moby’s fixed rate senior secured notes originally issued in February 2016”.

The statement further adds: “Moby considers the allegations made by the claimants to be entirely groundless and, accordingly, intends to challenge the action taken by them by all appropriate means”.

Moby’s EUR 300 m bond is listed on the Luxembourg stock exchange.