Monday, September 20, 2021
Home Yachts Sailing Yachts Perini Navi S.p.A. Undertakes Debt Restructuring Procedure

Perini Navi S.p.A. Undertakes Debt Restructuring Procedure

Viareggio, 21 May, 2020 – The Board of Directors of Perini Navi has decided to undertake a procedure aimed at restructuring the company’s financial indebtedness hopefully through a debt restructuring agreement pursuant to Article 182 bis of R.D. of 16 March 1942, no. 267 as subsequently modified and amended (the “Italian Insolvency Law”), in order to preserve the Company’s operational and business continuity. Therefore, the Board of Directors of the Company assessed and resolved to shortly file with the Court of Lucca an application for a pre-petition in respect of a composition with creditors (concordato preventivo con riserva), pursuant to article 161, subsection 6, of the Italian Insolvency Law.

Through this procedure, the Company intends to make use of a crisis management tool to overcome a moment of significant financial strain, which has been further exacerbated by the Covid-19 outbreak and its impact over all markets.

The Board of Directors intends to preserve the Company’s business and heritage, thus ensuring continuity to the important orders currently in build, as well as achieving the highest possible level of creditors’ satisfaction, in compliance with the process to be undertaken.

- Advertisment -

Subscribe to our newsletter

To be updated with all the latest news, offers and special announcements.

LATEST ARTICLES

Royal Huisman: new order for 65m/ 212ft performance ketch

The joint team of Royal Huisman, Dykstra Naval Architects and Mark Whiteley Design is delighted to announce the newbuild agreement for an...

In 2021, Les Voiles de Saint-Tropez is celebrating the 40th anniversary of the Nioulargue

Les Voiles de Saint-Tropez 2021 will take place this year from Saturday September 25 to Saturday October 9. A...

Les Voiles d’Antibes 2021

Les Voiles d'Antibes, the largest classic yachting event, is back for its 26th edition. Come and see the yachts and enjoy the...

Mylius Yachts unveils the new M 72 ‘project in Porto Cervo

Mylius taps the hippest names amongst project and interior designers from the international yacht industry to work together on true made-to-measure boats.Shaun...

Solaris 40 new project, a 40-foot boat with all the innovations

The new Solaris 40 contains in its 12.36 meters the result of an intense design study, signed by the Solaris designer Javier...

Explorer 62 conquers the 2021 World Yachts Trophies Award

On the evening of Saturday 12 September during the Cannes Yachting Festival, the authoritative French magazine Yachts awarded the World Yachts Trophies....

11th edition of Yare from the 20th until the 22nd of October 2021

11th edition of Yare, Yachting Aftersales and Refit Experience, taking place in Viareggio - Italy from the 20th until the 22nd of...

22 yachts representing 14 Countries line up for the Ocean Globe Race

Only two more years until the start of the Ocean Globe Race and the return of amateur ocean racing, to celebrate the...

Barcolana Sea Summit is scheduled from the 6th to the 9th of October

The state of the Mediterranean; the role of science diplomacy in supporting innovative and integrated policies for the  protection of the sea;...

The 46m performance cruiser Royal Huisman – Turning the feather

The lightweight construction of the 46m performance cruiser, Royal Huisman's project 405 aka Reichel / Pugh - Nauta 151, employs the shipyard's...