MV Agusta has avoided bankruptcy after an Italian court ruled that the firm’s cost-cutting plans did go far enough to save the marque.

An application submitted to the court in Varese explaining that the factory was cutting costs and the amount of models in the range was upheld by Judge Miro Santangelo.

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Santangelo has now appointed Riccardo Broggini as commissioner to oversee that the business plans are carried out. The current creditors who are involved in the financial side of MV Agusta will now have a meeting with Broggini on June 7.