{"id":149050,"date":"2010-04-30T00:00:00","date_gmt":"2010-04-30T00:00:00","guid":{"rendered":""},"modified":"2010-04-30T00:00:00","modified_gmt":"2010-04-30T00:00:00","slug":"geomag-at-failure-s-door","status":"publish","type":"post","link":"https:\/\/staging.varesenews.it\/2010\/04\/geomag-at-failure-s-door\/149050\/","title":{"rendered":"Geomag at failure&#8217;s door"},"content":{"rendered":"<p><meta content=\"text\/html; charset=utf-8\" http-equiv=\"Content-Type\"><br \/>\n<meta content=\"Word.Document\" name=\"ProgId\"><br \/>\n<meta content=\"Microsoft Word 11\" name=\"Generator\"><br \/>\n<meta content=\"Microsoft Word 11\" name=\"Originator\">\n<link href=\"file:\/\/\/C:\\DOCUME~1\\PPeggy\\IMPOST~1\\Temp\\msohtml1\\01\\clip_filelist.xml\" rel=\"File-List\" \/><!--[if gte mso 9]><xml>\n<o:OfficeDocumentSettings>\n<o:PixelsPerInch>72<\/o:PixelsPerInch>\n<o:TargetScreenSize>544x376<\/o:TargetScreenSize>\n<\/o:OfficeDocumentSettings>\n<\/xml><![endif]--><!--[if gte mso 9]><xml>\n<w:WordDocument>\n<w:View>Normal<\/w:View>\n<w:Zoom>0<\/w:Zoom>\n<w:HyphenationZone>14<\/w:HyphenationZone>\n<w:PunctuationKerning \/>\n<w:ValidateAgainstSchemas \/>\n<w:SaveIfXMLInvalid>false<\/w:SaveIfXMLInvalid>\n<w:IgnoreMixedContent>false<\/w:IgnoreMixedContent>\n<w:AlwaysShowPlaceholderText>false<\/w:AlwaysShowPlaceholderText>\n<w:Compatibility>\n<w:BreakWrappedTables \/>\n<w:SnapToGridInCell \/>\n<w:WrapTextWithPunct \/>\n<w:UseAsianBreakRules \/>\n<w:DontGrowAutofit \/>\n<\/w:Compatibility>\n<w:DoNotOptimizeForBrowser \/>\n<\/w:WordDocument>\n<\/xml><![endif]--><!--[if gte mso 9]><xml>\n<w:LatentStyles DefLockedState=\"false\" LatentStyleCount=\"156\">\n<\/w:LatentStyles>\n<\/xml><![endif]--><\/p>\n<style type=\"text\/css\">\n<!--\n \/* Font Definitions *\/\n @font-face\n\t{font-family:\"&#12498;&#12521;&#12462;&#12494;&#35282;&#12468; Pro W3\";\n\tmso-font-charset:0;\n\tmso-generic-font-family:roman;\n\tmso-font-pitch:auto;\n\tmso-font-signature:0 0 0 0 0 0;}\n \/* Style Definitions *\/\n p.MsoNormal, li.MsoNormal, div.MsoNormal\n\t{mso-style-parent:\"\";\n\tmargin:0cm;\n\tmargin-bottom:.0001pt;\n\tmso-pagination:widow-orphan;\n\tfont-size:12.0pt;\n\tfont-family:\"Times New Roman\";\n\tmso-fareast-font-family:\"Times New Roman\";\n\tmso-ansi-language:EN-US;\n\tmso-fareast-language:EN-US;}\np.p3, li.p3, div.p3\n\t{mso-style-name:p3;\n\tmso-style-parent:\"\";\n\tmargin-top:5.0pt;\n\tmargin-right:0cm;\n\tmargin-bottom:5.0pt;\n\tmargin-left:0cm;\n\tmso-pagination:widow-orphan;\n\tfont-size:12.0pt;\n\tmso-bidi-font-size:10.0pt;\n\tfont-family:\"Times New Roman\";\n\tmso-fareast-font-family:\"&#12498;&#12521;&#12462;&#12494;&#35282;&#12468; Pro W3\";\n\tcolor:black;\n\tmso-fareast-language:#0400;}\nspan.t3char\n\t{mso-style-name:t3__char;\n\tmso-style-parent:\"\";\n\tmso-ansi-font-size:10.0pt;\n\tcolor:black;}\nspan.t2char\n\t{mso-style-name:t2__char;\n\tmso-style-parent:\"\";\n\tmso-ansi-font-size:10.0pt;\n\tcolor:black;}\n@page Section1\n\t{size:612.0pt 792.0pt;\n\tmargin:70.85pt 2.0cm 2.0cm 2.0cm;\n\tmso-header-margin:36.0pt;\n\tmso-footer-margin:36.0pt;\n\tmso-paper-source:0;}\ndiv.Section1\n\t{page:Section1;}\n-->\n<\/style>\n<p><!--[if gte mso 10]>\n\n\n<style>\n\/* Style Definitions *\/\ntable.MsoNormalTable\n{mso-style-name:\"Tabella normale\";\nmso-tstyle-rowband-size:0;\nmso-tstyle-colband-size:0;\nmso-style-noshow:yes;\nmso-style-parent:\"\";\nmso-padding-alt:0cm 5.4pt 0cm 5.4pt;\nmso-para-margin:0cm;\nmso-para-margin-bottom:.0001pt;\nmso-pagination:widow-orphan;\nfont-size:10.0pt;\nfont-family:\"Times New Roman\";\nmso-ansi-language:#0400;\nmso-fareast-language:#0400;\nmso-bidi-language:#0400;}\n<\/style>\n\n\n<![endif]--><\/p>\n<p style=\"text-align: justify;\" class=\"p3\"><span class=\"t3char\"><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\">Geomag<\/span><\/span><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\">, famous in the first years of the millennium for the construction game based on magnetic force, <span class=\"t3char\"><span style=\"\">is one step from bankruptcy.<\/span><\/span><o:p><\/o:p><\/span><\/p>\n<p style=\"text-align: justify;\" class=\"p3\"><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\">The Federal court in Lausanne refused to approve the agreement required by the company that <span class=\"t3char\"><span style=\"\">is situated in Novazzano, in Canton Ticino, between Stabio and Chiasso (Switzerland)<\/span><\/span> and that was taken over by <span class=\"t3char\"><span style=\"\">Gusella,<\/span><\/span> a company of shoes and clothing near Milan, in 2009. The proposal of the Italian businessmen Francesco Caspani and Andrea Gusella that had proposed to smooth the debts with the main creditors (1 million Swiss Franks) and the Secured creditors before the debtor (2.5 million).<o:p><\/o:p><\/span><\/p>\n<p style=\"text-align: justify;\" class=\"p3\"><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\">&nbsp;<span class=\"t3char\"><span style=\"\">The decision of the bankruptcy court has been taken on the 26<\/span><\/span><span class=\"t2char\"><sup><span style=\"\">th<\/span><\/sup><\/span><span class=\"t3char\"><span style=\"\"> March<\/span><\/span>, and it has been already published on the official gazette and confirms the decision of the trial court in Mendrisio (Switzerland) that previously it has been expressed in a negative way about the request of the approval&nbsp; of the agreement asked by the commissioner Carlo Croci on proposal of the italian businessmen. Now, the unsatisfied creditors have 20 days to ask for the bankruptcy proceedings to start. <o:p><\/o:p><\/span><\/p>\n<p style=\"text-align: justify;\" class=\"p3\"><span class=\"t3char\"><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\">The company has an exposure of roughly 40 million Swiss Franks<\/span><\/span><span lang=\"EN-GB\" style=\"font-size: 11pt; font-family: Arial;\"> (roughly 28 million Euros) of debts. The firm, that in the past employed upto 120 workers last year had to lay off 82 workers: the large part of them coming from Italy, mainly from the area of Como. <o:p><\/o:p><\/span><\/p>\n<p><\/meta><br \/>\n<\/meta><br \/>\n<\/meta><br \/>\n<\/meta><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company, famous in the first years of the millennium for the construction game based on magnetic force, has received the rejection of the agreed preventive from the district court.<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Geomag at failure&#039;s door<\/title>\n<meta name=\"description\" content=\"The company, famous in the first years of the millennium for the construction game 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