MV Agusta announces the definitive exit from the arrangement with creditors in going concern.
The Court of Varese with a decree dated 29 December 2022, declared the complete extinction and execution of the bankruptcy procedure, thus ascertaining that MV Agusta proceeded with the full payment of the composition creditors and related obligations.
A goal achieved thanks to the commitment of the Sardarov family who took control of the company four years ago, paying over 180 million euros for the improvement of best practices, the full payment of debts with creditors and for the financing of current assets.
MV Agusta and the entry of KTM
The entrance of the new member KTM AG, contributed to directing the company towards a definitive relaunch, thus closing a difficult and delicate phase in the history of MV Agusta.
Timur Sardarov, CEO of MV Agusta Motor SpAhe has declared: “Since my arrival at MV Agusta, leaving the arrangement with creditors has been one of the main objectives that the company’s management had set itself, and has achieved, to recover the trust of customers and suppliers and be able to relaunch the company.
Despite the negative effects resulting from the Covid-19 pandemic, the increase in raw material prices and, nevertheless, the outbreak of war in Ukraine, the commitment, perseverance and professionalism of the management of MV Agusta prevailed and made it possible to achieve this important result.
Now we must look to the future with renewed confidence, comforted by the success that our new models are achieving.
The new partnership with KTM AG it is already energizing our business on all fronts, from producing new motorcycles, to expanding our dealer network to providing world-class assistance to all our passionate customers.
After dark years we have finally created the conditions to allow ad MV Agusta to write a new chapter in the history of motorcycling”.