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An arrangement with creditors seems inevitable for Parnasi

27 December, Italia Oggi

Following the bankruptcy petition for the Rome-based construction company Parnasi, a request for an arrangement with creditors was presented to the Court of Rome.

Meanwhile, Unicredit, one of the main creditors, entered an agreement to sell properties and land in Tor di Valle for 67 million euro to the Czech Cpi Property Group. The proceeds will be used to repay creditors. The plan, however, didn’t convince the Revenue to withdraw the bankruptcy petition filed in 2018. Therefore, Parnasi will have to request an arrangement with its creditors to guarantee the business continuity and finalise the sale to Cpi Property Group.

Source: Italia Oggi

Translator: Cristina Ambrosi