May 5, 2020
- Pillarstone Italy announces the conclusion of the
renegotiation of PB Tankers debt
- Four of the company's MR2 ships enter the Finav fund
- Pillarstone Italy has announced the conclusion of the
restructuring of the debt of PB Tankers, the group's company
Pietro Barbaro who has a fleet of five medium oil tankers
radius, and the consequent deposit to the feel of art. 182 encore Law
Bankruptcy at the Court of Rome. The operation involves
two-stage delivery of four MR2 ships from PB Tankers in Finav,
Pillarstone Italy's credit management fund
shipping sector, which currently has assets under management for a
value of more than 500 million euros against
nine Italian shipping companies.
- Pillarstone Italy specified that today's operation
it also strengthens the operational capacity of Premuda, the
Pillarstone Italy's ownership of the operations
management of a fleet of up to 36
by the end of the year.
- "This operation - pointed out the administrator
Pillarstone Italy delegate, Gaudenzio Bonaldo Gregori - consolidates
Finav's role as a leading player in the shipping industry
Italy. We maintain the operation of the fleet in Italy and
we continue to invest in a purely industrial logic for
growth and become more efficient and efficient
competitive markets, ready to meet the challenges
Covid-19 pandemic places us. We thank the shareholders and the
management of PB Tankers with which in recent months we have started and
had a fruitful collaboration."
- "The agreement announced today - commented Gianni Barbaro,
CEO of the parent Pietro Barbaro -
contributes significantly to the process of
restructuring of PB Tankers, whose business had been
last year blocked and jeopardized by the temporary
unjustified inclusion in the list of OFAC sanctioned persons.
The agreement allows PB Tankers to restore its
economic/financial balance while ensuring continuity
continuing the business.'
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