Lunedì, 24 Settembre 2018

Milano Assicurazioni, Fonsai boards may sue Ligresti family


Milan, February 5 - Members of the Ligresti family,
the former majority owners of the nearly-defunct Milano
Assicurazioni and Fonsai insurance companies, will likely face
lawsuits by the companies themselves after having caused
hundreds of millions of euros of damages to the companies'
former shareholders.
The boards of directors of the two companies, who almost
collapsed last year, have called for shareholder meetings on the
13th and 14th of March, respectively, to determine actions
against former company administrators and auditors, according to
a statement released Tuesday.
The meetings will determine what actions to take against
Ligresti family members Salvatore, Jonella, Giulia and Paolo,
former Chief Executive Fausto Marchionni as well as councilors
and auditors who served with the two companies.
In the statement Tuesday Matteo Caratozzolo, Fonsai's
administrator, said that in real estate transactions he
investigated the group "was subjugated to the will of the
Ligresti family, through the action of yes-men administrators.
The value of the damages caused is huge, in the order of
hundreds of millions of euros".
Caratozzolo also said in his report that Salvatore Ligresti
was paid "abnormal compensation for the purpose of making the
Fonsai group purchase real estate owned exclusively by connected
The family will also be called to answer for its use of the
firms' financial resources to pay for some 4.76 million euros in
sponsorships for horses owned by Ionella Ligresti - "a further
way to unjustly drain resources from the Fonsai group for the
benefit of the Ligresti family," according to Caratozzolo.
Separately Tuesday, negotiations on redundancies between
unions representing employees of insurer Unipol and Fonsai,
which was absorbed into Unipol as part of efforts to salvage the
Ligresti companies, got off to a bad start.
According to a joint union statement, Unipol is attempting
to get dodge "fundamental guarantees" for workers by not
deliberately excluding from its proposal for integrating the two
firms' work forces references to individual or collective

Photo: Ionella Ligresti

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