TISG Update: Protective Measures Confirmed in Detail, €100 Million Capital Increase Under Consideration

Following the latest developments in its composition with creditors procedure, The Italian Sea Group has issued an official statement detailing the measures adopted by the Florence Court and the initiatives envisaged as part of the company’s restructuring process.

The company announced that the Court has confirmed the protective measures requested in connection with its application for access to the crisis resolution procedure, granting them for the maximum period permitted by law, namely four months starting from 1 July 2026. At the same time, the Court has provisionally granted the precautionary measures requested by the company, pending the hearing scheduled for 22 July.

According to The Italian Sea Group, these measures prevent yacht owners from terminating existing contracts due to any alleged default by the shipyard and from enforcing the guarantees that have been issued. In addition, suppliers considered essential for projects approaching delivery will be temporarily released from their obligations to assign receivables to factoring companies.

The company also states that these measures will enable it to continue its operations and ensure the progress of ongoing projects in line with the proposed restructuring plan.

The statement also introduces a new element that had not previously been disclosed. Subject to reaching binding agreements with suppliers, yacht owners and lending institutions in support of the new industrial plan, The Italian Sea Group may evaluate a capital strengthening transaction through a market capital increase, expected to be launched from the fourth quarter of 2026, for an amount of approximately €100 million.

Compared with the information available over the past few hours, the company’s statement adds an important new element: alongside the legal protection designed to safeguard operations during the composition with creditors procedure, it also outlines a potential route to strengthen the company’s capital base, although this remains subject to the outcome of negotiations with all stakeholders involved.

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