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Subject: Moto Morini applies for voluntary liquidation


Author:
Bob
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Date Posted: 05:27:56 09/25/09 Fri
 Moto Morini has applied to the Bologna Court for voluntary liquidation. The Italian manufacturer had difficulties in paying suppliers, so applied for voluntary liquidation status to protect assets.

In Italy, voluntary liquidation status is not as bad as in the UK; it is more like the “Chapter 11” status in the USA and allows the business the opportunity to search for a joint solution that allows payment of creditors and to continue in business, as well as search for new financial partners – and the rumour mill suggests that parties are interested.

Moto Morini currently employs approximately 65 employees who are continuing production on a regular basis.
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