‘Proven insolvency’. Pm investigates other companies for bankruptcy
(ANSA) – BARI, 01 MAR – The bankruptcy court of Bari has rejected the application for approval of the debt restructuring agreement and declared the bankruptcy of Finba spa, managed by Amato Matarrese, holding company of the Matarrese construction group. The Bari-based company carries out the business of granting loans, including leasing, the acquisition of shareholdings for investment purposes and the collection, payment and fund transfer service. The bankruptcy application was presented by the Bari Public Prosecutor’s Office on 22 February 2022 following a report from the civil judge. The prosecutors of Bari have an investigation underway on companies of the Matarrese group, including Finba, for fraudulent bankruptcy due to distraction and dissipation, for facts completed from 2016 to today for an alleged crack of over 20 million euros which revealed an exposure debt of 70 million.
In the bankruptcy sentence, the judges (President Raffaella Simone) highlight that the company has a debt exposure of approximately 2.9 million euros against an injunction issued by the Court of Bari on 8 May 2021; a debt exposure to banks of 4.8 million; current assets resulting from the last approved financial statements (dating back to 2018) of 857 thousand euros, against total debts of 15.7 million. According to the judges, the state of insolvency of the debtor is therefore proven, taking into account the size of the debts and the persistence of the default.
The curators of the procedure have been appointed Emanuele Virgintino and Antonio Quercia. The creditors’ meeting to examine the liabilities was set for 20 June 2023 before the appointed judge, Carlotta Soria. Finba Spa, one of the holding companies of the Matarrese family, regretfully acknowledging the provision issued by the Court of Bari, will present a complaint before the Court of Appeal, deeming that all the elements exist for acceptance of the proposed Restructuring Agreement and that its non-acceptance can only produce negative effects towards the Company’s creditors.
breaking latest news © Copyright ANSA