Genoa – Malacalza Investments against ECB. The ruling on the maxi should arrive tomorrow morning
compensation requested from the European Central Bank by Malacalza family, former main shareholder of Carige: half a billion invested and evaporated in the Genoese bank, which was placed under administration in 2019, then reorganized and today in Bper. Malacalza Investimenti asks 880 million euros in compensation. For his part, the ECB considers the appeal unfounded. The Malacalzas, former steel industrialists who are now still active in superconducting magnets with Asg Superconductors, after having collected nine-figure capital gains upon leaving Pirelli, had entered Carige in 2015, purchasing 10% from the Foundation, to end up – from increase to increase – first shareholders of the bank with 27.5% at the end of 2018and find themselves with a handful of flies in the hands of the administration decided by the ECB at the beginning of 2019.
The sentence tomorrow at Luxembourg it will be the first on the compensation requested from the ECB, but it is possible that the legal battle will continue. Carige came out of receivership in 2020 after a 700 million bailout operated by Interbank deposit protection fund (Fitd), and in 2021 it was merged into Bper.
The Malacalzas had requested, in civil proceedings in Genoa, compensation of 480 million from Carige, Fitd and Cassa Centrale Banca, which was rejected in 2021. In November 2022 the EU Court annulled the ECB’s decision to place the bank under administration, following an appeal from a former small shareholder, effectively opening the way to potential compensation claims.
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