Key Developments: Giovanni Crespi SpA (GCRE.MI)
0.03EUR
29 Apr 2013
€-0.00 (-2.28%)
€0.03
€0.03
€0.03
€0.02
994,035
330,975
€0.05
€0.02
Latest Key Developments (Source: Significant Developments)
Giovanni Crespi SpA Announces Invitation to Submit Offers
Giovanni Crespi SpA announced that, in relation to the filing with the Courts of Busto Arsizio a preliminary petition for a pre-insolvency workout agreement with creditors (concordato preventivo) pursuant to article 161, para. 6, of the Italian Bankruptcy Law, the Courts granted the Company with a term up to July 10, 2013, within which the Company will have to file with the Courts its final petition for concordato preventivo, including the workout plan and the relevant proposal to creditors. The Company is working on a workout-plan which, although still subject to further analyses and verifications, at the moment provides for, inter alia, the sale of certain branches (rami aziendali) of the Company to third parties on a going-concern basis, the sale of certain shareholdings owned by the Company and the sale of the remaining assets in the context of the proceedings. The Company plans to sell the so called synthetic branch, and calender branch; the stake in Orsa Srl; the shareholdings owned by the Company in the corporate capital of, respectively, Nuova Mabel Srl, Beijing Crespi Ltd, and Crespi do Brasil Ltda; two areas with building destination located in San Lorenzo di Parabiago (MI), Italy, corso Sempione 78 and located in Legnano (MI), Italy, viale Pasubio n. 38. In line with the foregoing, the Company is scouting the market in order to find any interested third-parties potential buyers, in so pursuing the interest of the creditors and of the Company’s employees. Full Article
Giovanni Crespi SpA Enters Liquidation
Giovanni Crespi SpA announced that the Shareholders' Meeting of the Company has decided to put the Company into liquidation and has appointed a panel of liquidators made up of Filippo Colombetti as Chair and Michele Almasio. The panel of liquidators has been granted all powers to deal with the Company's situation in the interest of the Company, including the authorization for events such as to lease or divest the Company or its business branches. Full Article
Giovanni Crespi SpA Issues FY 2011 Revenues Guidance
Giovanni Crespi SpA announced that it expects for fiscal year 2011, to report revenues higher compared with fiscal year 2010. Full Article
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