Cross-border insolvency protection of a ship on its way to Australia

An Italian shipping company – Michele Bottiglieri Armatore SpA – which is subject to Italian restructuring protection, a concordato preventivo

Income of a bankrupt – “even accepting that chattels might … be received as income, a ship is a very different proposition”.

An unlikely case about the salvage of a 120 year old wooden ship – the Defender – has found its