Ferrarini, composition proposal approved by 75% of the creditors’ classes

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Green light from 75% of the creditors classes to the proposed composition with creditors for the Ferrarini group. This was announced by the Emilian food company itself according to which the «composition proposal was approved by 75% of the creditors classes, 9 classes of 12, and by a corresponding percentage, over 71.96% of the creditors considered as a whole». The restructuring plan filed provides that, upon approval of the arrangement, the Pini group will take over the capital, with Amco as lender. «The company – says the legal consultant of the Ferrarini group, Sido Bonfatti – communicates with satisfaction the opening of the judgment for the approval of the arrangement. The homologation by the Court of Reggio Emilia, which is expected to take place by the end of 2022, is a decisive step. Once this provision has been made – he adds – the Concordat can be executed, despite any pending disputes before other Courts ».

In light of the fact that the company “is not aware of any measures adopted” in this regard, Bonfatti concludes, “the conclusion of an arrangement procedure is therefore close, which stands out as perhaps the longest of those that can be remembered “. A conclusion, points out Alberto Guiotto, head of the Advisory Department of Agfm, the consulting firm that supports Ferrarini from a corporate point of view, “which was made possible exclusively by the fact that the management of the Ferrarini company in these four and a half years it generated profits, and not losses, demonstrating beyond any possible doubt the ability to remain on the market for the future and to fully safeguard employment levels and the important associated activities. Induced – says Guiotto – who believed in Ferrarini even in the most difficult moments, so much so that 76.2% of suppliers expressed themselves in favor of the arrangement ».

The Ferrarini group is an agri-food company that in addition to being the first Italian brand to produce cooked ham without added polyphosphates, produces other Dop specialties in the food valley such as Parma ham, salami and mortadella.