MILANO – Green light from the court of Milan to the request of the commissioners of Tirrenia to order the precautionary seizure of the assets (movable or immovable) of Onorato Armatori, the holding of the shipowner Vincenzo Onorato that controls Moby and Cin (formerly Tirrenia): yes it is an equivalent of 20 million.
The provision follows the filing of the appeal discussed in the first days of November, when the commissioners themselves had decided to request the precautionary anticipation of the effects of the liability action brought against the owner’s parent company, holding it responsible for the cin-tirrenia instability.
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by Maurizio Bologni Marco Preve
The court upheld the defense thesis of the Tirrenia lawyers, Professor Pier Filippo Giuggioli and the lawyer Adriano Curti, according to which the responsibility of Onorato Armatori is immediately appreciable for having taken enormous financial resources from Cin (amounting to over 210 million) such the latter must be prevented from paying the 180 million credit towards the extraordinary administration of Tirrenia for the balance of the price for the sale of the business unit concluded with a contract dated 25 July 2011.
The limitation of the seizure to the amount of 20 million is due to Cin’s presumable possibility of partially repaying the debt owed to Tirrenia as part of the arrangement plan currently being approved by the Milan court. The court also justified the granting of the precautionary measure of the seizure due to the corporate management carried out by the Onorato family, whose holding company Onorato Armatori has not filed financial statements since 2017.
“The company that has not approved financial statements for years, so that it does not provide updated information on its equity and financial situation and this is to the detriment of its creditors above all”, reads the device, “integrates in itself the periculum in mora”, that is the danger of dispersion of the patrimonial guarantee due to the liability action initiated in recent months.
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by Maurizio Bologni Marco Preve
At the same time, due to the collapse of the shipping group, the Milan prosecutor’s office has opened a fraudulent bankruptcy investigation in which the shipowner Vincenzo Onorato and his son Achille are being investigated.