Vincenzo Onorato's Moby Group has applied for court protection in order to advance talks with creditors.

Its subsidiaries Moby Lines and Compagnia Italiana di Navigazione (CIN) are seeking to continue negotiations under the supervision and protection of a court in Milan.

The company said the move would allow negotiations with creditors to continue with the aim of reaching a restructuring agreement.

It believes that will help the Italian ropax operator overcome its financial difficulties.