Green light to Moby and Compagnia Italiana di Navigazione’s rescue plan by the Court of Milan

By | 2022 Newsletter week 47 | No Comments

Moby S.p.A. announced that “by Decree dated today, November 24th, the Court of Milan declared the homologation of the Composition Plan proposed by the Company and its subsidiary, CIN S.p.A. (Compagnia Italiana di Navigazione). With this Decree, the Court rejected the only action in opposition brought by Grimaldi Euromed S.p.A., ordering it to pay the judicial costs in favor of Moby and CIN”.

Green light also to the Gianluigi-Aponte-controlled MSC Group to take directly a 49% stake in Moby in exchange of EUR 150 million, of which EUR 81 million will be used to partially repay the debt of 180 million with Tirrenia in Amministrazione Straordinaria (bad company controlled by the Italian economic development minister born when the former public Tirrenia was sold in 2012).

More time for Moby and CIN

By | 2022 Newsletter week 7 | No Comments

Moby S.p.A.” announced on February 15, 2022, that the Court of Milan has granted to the Company and to its subsidiary, CIN S.p.A., a deferral of the meeting of creditors, as result of a filing to the Court, last January 19, of the new continuity Plan.

The new meeting dates have been set for 20th and 27th June 2022, respectively for Moby and CIN, setting the date for 31 March 2022 as a deadline for filing, inter alia, the agreement with Tirrenia di Navigazione SpA in Amministrazione Straordinaria, which represents the main CIN creditor, missing from the consent to the restructuring plan, which has seen the two Companies overcome the difficulties of the pandemic repositioning itself as a leader in the reference markets.

(Message by Moby’s investor relations communication)