Attached to this post is the letter itself.
Essentially Moby are saying Grimaldi are blocking the refinancing package for spurious reasons with the aim of driving Moby and Tirrenia (CIN) out of business.
Achille Onorato has been known to make ill-advised and explosive public statements before, although not usually couched in legal terms like this letter.
The explosive points of the letter:
"Therefore, the purpose underlying the judicial initiative in question appears to be decidedly ill-concealed...the ultimate goal underlying the vexatious strategy you are pursuing is therefore found in the elimination from the maritime market, in one fell swoop, of two of your main competitors operating in the passenger and freight transport sector to and from the major [Italian] islands.
Even on the basis of what was stated by the Court of Milan, there can therefore be no doubt on the fact that your company, violating every most elementary principle of fairness and good faith which our system is based on and abusing the rights recognized by it, has put in place an anti-competitive strategy clearly aimed at ensuring exit from the market of Moby and CIN, to the detriment – as well as of the Companies themselves – also of all the other subjects directly or indirectly involved in the restructuring of their debt.
It is quite clear that such a strategy - which is also based on tariff policies particularly aggressive (if not predatory) on the freight routes from/to Sardinia – represents extremes of unfair competition pursuant to art. 2598 code civ., and therefore the Company reserves the right henceforth the right to act to protect its own interests.
...in light of the foregoing, we hereby warn you against continuing to pursue the specious and persecutory anti-competitive strategy that you have adopted so far, abandoning the initiatives already illegally undertaken and refraining from implementing further activities capable of delaying and/or hindering in any way the correct execution of the agreements Moby and CIN and to cause the latter, as a result, not only very serious prejudices, but also of an irreversible nature.
Failing that, the Companies reserve the right to take action against you, in any appropriate venue, for the compensation for all damages that may arise from the failed and/or delayed execution of the agreements approved by the Court of Milan... in particular, the prejudices that could derive from your abusive initiatives can be calculated by referring to the difference between the assets were the agreements implemented and what they would have if they were declared insolvent... a sum not less than €290,000,000 relating to MOBY S.p.A. and €190,000,000 for CIN."
The letter:
