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26 June 2019 The on-line newspaper devoted to the world of transports 01:38 GMT+2

November 28, 2014

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Original news
the company of French navigation SNCM is placed in controlled administration

the procedure of judicial reorganization previews a period of observation of six
the Commercial Court of Marseilles has decided to place the company of French navigation Société Nationale Maritime Run Méditerranée (SNCM) in controlled administration establishing a period of observation of six months and 7 an intermediate encounter next January.

In an official notice the company has specified that "the judicial reorganization (that is the procedure of insolvency that has the objective to save the company, to maintain to the activity and the occupation and to liquidate the liabilities, ndr) has become because of I accumulate it of threats financial institutions, but also of the losses of the society, aggravated during the last few years for the reduction of its structural deficit unavoidable and market share legacies to its organization".

SNCM has emphasized that "this decision opens a new decisive phase for the future. The effectiveness of the judicial reorganization - it has explained the company - marks the beginning of the period of observation and will afford to officially start the contest of contract for the purchasers".

Moreover the company has evidenced that "from its arrival the direction is beaten in order to avoid the liquidation and in order to characterize the distance that will allow to preserve the great part of activity and the places of work. Moreover the industrial plan that is managed demonstrates that the activity within can be in balance and this represents an element essential in order to find the best purchaser possible and to guarantee the continuity of the activities".

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