Mondomarine Auction in June Could Displace Palumbo

On June 13, an Italian bankruptcy court will sell the former Mondomarine construction sheds and equipment at auction. This impacts the existing site leaseholder, Palumbo Superyachts Refit, which has usage rights through June 30. While it reportedly has submitted a bid, it isn’t guaranteed the ownership contract. According to the newspaper Il Secolo XIX, three Continue reading

Palumbo Group Takes Over Mondomarine

Due to an agreement finalized in the last days of 2017, the Palumbo Group is now in charge of operations at fellow Italian megayacht builder Mondomarine. The agreement, approved by an Italian bankruptcy court and labor unions, is just for six months. However, it allows nine Mondomarine employees to return to work as of January Continue reading

PHOTO: Facebook/Mondomarine

Search & Seizures at Mondomarine Offices

The Italian fiscal police searched three Mondomarine offices in Italy this week, removing items from each. It’s the latest development in an investigation into the builder’s business operations. Mondomarine’s problems became public in March, when it laid off 100 workers. The shipyard’s owners began seeking a buyer by summertime, to avoid being forced into bankruptcy Continue reading