The court of Alessandria, Italy has admitted Gruppo Mossi Ghisolfi companies to the “concordato preventivo” in accordance with article 161 sixth paragraph of the Bankruptcy Law.
On October 17, Italy-headed Mossi Ghisolfi Group, an international group of companies specialised in the design, engineering and construction of chemical processes and chemical compound plants within the polymer, polyester and biofuels sectors filed for “concordato preventivo”.
The court has granted all companies (Mossi & Ghisolfi S.p.A., M&G Finanziaria S.p.A., Biochemtex S.p.A., Beta Renewables S.r.l., Italian Bio Products S.r.l., IBP Energia S.r.l., M&G Polimeri S.p.A. and Acetati Immobiliare S.p.A.) a term of 120 days starting from October 26 for the filing of the proposal of the composition with creditors, with the exception of IBP Energia for which the court granted a term of 60 days.
