Toymaker Wins Court Protection From Ex-Advisor’s Insolvency Bid

Italian toymaker Giochi Preziosi SpA has obtained court protection from creditors after its former financial adviser asked a tribunal to place the company under insolvency.

The firm was given 60 days to come up with a finalized restructuring plan, according to a decree from the Milan tribunal dated Oct 30. Court protection gives a borrower immunity from any action from creditors.