Perini Navi is insolvent

Perini's vice-chairman and major shareholder Edoardo Tabacchi and CEO Lamberto Tacoli have failed to convince the court of their debt restructuring plan over the past eight months. Insolvency administrator Franco Della Santa has begun the restructuring process, while work continues in La Spezia and Viareggio. According to Italian media reports, the delivery dates have been delayed by a year. A 47-metre Alukasko from the new E-volution series only reached Viareggio in mid-January. The order books are well filled, including a yacht for Larry Ellison, which is said to be under construction. An auction of Perini Navi is now looking increasingly likely, with various bidders positioning themselves. Sanlorenzo announced its interest early on, and the Ferretti Group, the Palumbo Group and the Italian Sea Group have also joined in.