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The Court declares the former Ilva insolvent - Last minute

2024-02-29T16:15:08.005Z

Highlights: The Milan Bankruptcy Court has declared Acciaierie d'Italia spa to be insolvent. A step that effectively allows the extraordinary administration to be started. The declaration of insolvency, at the same time, should trigger an investigation with the hypothesis of bankruptcy into the management and accounts of the former Ilva. The judges (college chaired by Laura De Simone) have scheduled the hearing to ascertain the debt status and the creditors' questions for 19 June. The fact-finding file should soon become, as expected in these cases, an investigation into a bankruptcy crime.


The Milan Bankruptcy Court has declared Acciaierie d'Italia spa to be insolvent. A step that effectively allows the extraordinary administration to be started. (HANDLE)


The Milan Bankruptcy Court has declared Acciaierie d'Italiaspa to be insolvent.

A step that effectively allows the extraordinary administration to be started.

The declaration of insolvency, at the same time, should trigger an investigation with the hypothesis of bankruptcy into the management and accounts of the former Ilva.


    The judges (college chaired by Laura De Simone) have scheduled the hearing to ascertain the debt status and the creditors' questions for 19 June.

In the hearing two days ago, before the Bankruptcy Section, the lawyers of Invitalia, public shareholder of AdI spa, and of the Extraordinary Commissioner Giancarlo Quaranta, appointed by the government, reiterated the request for a declaration of the state of insolvency to effectively start the extraordinary administration.

While the lawyers of Arcelor Mittal, still the majority private shareholder, had instead requested, as a counter move, the so-called "blank" agreement for the entire group, which includes Acciaierie d'Italia spa, AdI Energia srl, AdI Servizi Marittimi srl and AdI Tubiforma srl.

The latter requests were rejected.

Meanwhile, the deputy prosecutor Laura Pedio, who also took part in one of Tuesday's hearings, has opened a file, currently without any hypothesis of crime or suspects, on the case of the former Ilva.

The investigations are also entrusted to prosecutor Pasquale Addesso.

The fact-finding file should soon become, with the declaration of insolvency and as expected in these cases, an investigation with the hypothesis of a bankruptcy crime.


    In Acciaierie d'Italia spa - emerges from the provision of the Bankruptcy Court of Milan - there is an "absolute absence of cash liquidity" which can compromise the "survival" of the company.

A state of "absence of liquidity" not contested, among other things, not even by the company itself.


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Source: ansa

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