The Court of Ancona approved the procedure for the composition with creditors entailing the transfer of ISA – International Shipyards Ancona’s business, a company active in the construction and refitting of luxury yachts. Following a long procedure involving several national and international players in the industry and complex trade union negotiations, the composition with creditors allowed for the restructuring of an overall debt of over 55 million euro and the transfer of the business, with around 100 employees, to the Palumbo Group, a leading player in the market with several shipyards in the Mediterranean.
Ughi e Nunziante, with a team composed of partners Marcello Gioscia and Gianluigi Pugliese, and associates Carmen Oriani and Anna Vanni, handled the legal issues connected to the procedure for the composition with creditors and the transfer of business. The Palumbo Group was assisted by Giorgio Filippi, together with Paolo Bortoluzzi and Luca De Bernardi.
