The Italian Sea Group requests creditor protection measures as part of settlement procedure
16/03/2026 10:03
March 16 (Reuters) - The Italian Sea Group TISGR.MI has initiated a negotiated settlement procedure, requesting the application of asset protection measures for all its creditors, the yacht maker said on Monday. The company, whose brands include Perini Navi which built the 56‑metre yacht Bayesian that sank off Sicily in August 2024, said in a statement that the court‑ordered protections took provisional effect on Friday. The shares were automatically halted from trading after falling around 14% following the announcement. The group last week filed a complaint against several former executives, whom it accuses of hiding the real status of work orders and supplying the chief executive with misleading accounting data. (Reporting by Mirko Miorelli in Gdansk, editing by Milla Nissi-Prussak) ((Mirko.miorelli@thomsonreuters.com))