Ex-ILVA declared insolvent - Business.com. Milan bankruptcy court on Thursday declared the former ILVA steelworks at Taranto in Puglia insolvent.
The declaration of insolvency, at the same time, should pave the way for a possible probe into bankruptcy in the management and accounts of the sprawling steel mill. The steelworks, which currently employs some 10,000 workers, has racked up over three billion euros in debts amid an inability to pay its bills and suppliers.