Moby noteholders file insolvency proceedings; company plans challenge

By Caroline Salls

Pittsburgh, Sept. 19 – Moby SpA said Thursday that insolvency proceedings have been filed against it in the Court of Milan by claimants who hold the company’s fixed-rate senior secured notes.

According to a news release, Moby has instructed legal counsel to defend it in the insolvency proceedings and “considers the allegations made by the claimants to be entirely groundless.”

As a result, the company said it intends to challenge the action taken by the creditors.

Moby is a Milan-based provider of maritime transportation services.

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