Banca Etruria: Today in court the bankruptcy filing – Il Sole 24 Ore

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This article was published February 7, 2016 at 21:07 hours.
the last change is the February 8, 2016 at 07:15.

The Bankruptcy Court of Arezzo is called, in the audience today Monday, February 8, to rule the state of the old Banca Etruria insolvency. The lender was commissioner in February 2015 after the Bank of Italy had identified on the basis of inspections carried out, a serious financial difficulties. On insolvency request is asked to judge the college led by the President of the Court Clelia Galantino, the court reporter Antonio Picardi and Judge Paolo Masetti. On December 28, the liquidator Giuseppe Santoni has made the declaration of insolvency, necessary step after the so-called decree saving banks approved by the government on November 22 that caused the forced liquidation of Banca Etruria.

If the verdict will welcome the use of Santoni, it will be declared the state of insolvency and bankruptcy. At that point, the Court shall appoint a bankruptcy trustee; if these were to recognize criminal conducts borne by the old directors (including the former president Lorenzo Rosi and former vice chairman Pier Luigi Woods, father of the Minister Maria Elena), the college of judges will transmit the report to the Prosecutor of Arezzo. Then it’s up to the Chief Prosecutor Roberto Rossi and other prosecutors pool investigating the case Banca Etruria (so far four strands of inquiry) were opened to analyze the reasons that led the bank to have accounts in deep red, assuming the crime of fraudulent bankruptcy. In the Santoni report appears, among other things, a severe criticism of the management of the loans granted by the institute and never returned to the economic difficulties, quantified “about 3 billion euro.” The report reads: “The critical issues addressed with serious delay by the corporate bodies were consisted of the failure to timely adoption of strategies, policies and structures dedicated to the management of non-performing loans.”

To open the hearing of the Bankruptcy Court will be the court reporter Antonio Picardi. Then she will address the liquidator Giuseppe Santoni will present his report. Then it’s up to legal last president of the old Banca Etruria before the commissioner, Lorenzo Rosi, lawyers Desario Michele and Antonio Giunta, illustrate the statement of defense already deposited with the registry. According to what has been learned, the Desario and Government lawyers could raise the issue of constitutionality of the decree on saving banks that would be considered illegal in terms of the violation of Articles 3 (principle of equality) and 47 (protection of savings). If the request for a ruling by the Constitutional Court will be upheld by judges from Arezzo, the hearing will stop waiting for the judgment of the consultation; otherwise the hearing will go ahead and the Court may decide to hear the representative of the Bank of Italy and finally the commissioners Antonio Pironi and Riccardo Sora who headed the bank from February to November 2015.

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