Another Italian company will undergo an in-depth restructuring process.
“Giuseppe Bottiglieri Shipping company filed for bankruptcy protection under the Italian law,” the Naples-based firm said in a statement.
“Due to the unprecedented world freight market crisis, the company has recently prepared a new business and financial plan currently under discussion with the financial creditors to pursue a consensual restructuring,” the company explained.
EY has been appointed the financial-industrial adviser and Dla Piper the legal adivsors.
As of today Giuseppe Bottiglieri Shipping Company’s fleet consists of 12 vessels, made up of 4 MR1 tankers and 8 bulk carriers.