Moby Spa filed a request in continuity yesterday evening, within the deadline set by the Milan court. This is a relaunch plan, which provides for the sale of some assets and focuses on the arrival of two new ferries. The decision on the fate of Tirrenia-Ci, for which the Onorato group announces the debt restructuring plan, has been postponed by a few days.
Moby Lines
Moby had presented a debt restructuring plan which had not met full agreement. A group of bondholders filed for bankruptcy, which was then rejected by the Milan Court in September 2019. The company’s crisis then worsened with the pandemic.
Now, the question of continuity. “The relaunch plan ensures the best conditions for the relaunch of the company, the maintenance of customer services, the protection of direct and related employment levels for a total of over 6000 workers in one sector, the maritime one, among the most affected by the Covid-19 crisis ”, reads a company note. There is talk of the sale of assets, but also of “positive results recorded in the last year and the expected arrival of two new Ro-Pax ferries under construction with a capacity of 2500 passengers and 3750 linear meters of goods each”.
Tirrenia-Cin
The Onorato group confirms its intention to present “a restructuring plan pursuant to article 182bis of the LF, also in light of the agreements already signed with approximately 95 per cent of suppliers and thanks to the partnership with the investor Europa Investimenti / Arrow”. The filing of the approval request for Cin is postponed for a few days to conclude the negotiations with Tirrenia AS, that is to say the State, towards which there is an exposure of 180 million euros.