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M & G Additional Chapter 11 Filings Initiated

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Privately-held M & G USA and 11 affiliated Debtors (including parent Luxembourg-based Mossi & Ghisolfi International S.a r.l.) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware.

As previously reported, on October 24, 2017, M & G Polymers USA initiated a Chapter 11 filing in the same Court; and, on October 17, 2017, M & G Polymers USA’s parent Mossi Ghisolfi Group filed for “concordato preventivo” with the Tribunal of Alessandria, Italy, in accordance with article 161 sixth paragraph of the Bankruptcy Law. The Italian filing impacts Mossi Ghisolfi Group’s Mossi & Ghisolfi (M&G), M&G Finanziaria, Biochemtex, Beta Renewables, Italian Bio Products, IBP Energia, M&G Polimeri and Acetati Immobiliare companies.

M & G USA’s Chapter 11 petition indicates assets greater than $1 billion.

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