Setti investigated for bankruptcy. The position of Hellas Verona
The Bologna Financial Police has carried out a preventive seizure, issued by the investigating judge, on the shareholding of a limited company (Star Ball) in Verona Calcio. The owner of the club, the entrepreneur Maurizio Setti, is under investigation for bankruptcy together with another person. The investigations, according to the Fiamme Gialle, highlighted episodes of distraction, through the transfer of the representative shares of the sports club, from the bankrupt company to the limited liability company recipient of the precautionary measure, the latter also attributable to the same entrepreneur, namely the patron of the Scala family, president Maurizio Setti.
The position of Hellas
“It is considered appropriate to clarify. The seizure affair does not concern the assets of Hellas Verona FC spa (“HV”), which are not affected. The seizure is part of, as yet another judicial skirmish, in the dispute between the corporate group of Maurizio Setti and the Gabriele Volpi corporate group”. Thus Verona in a note on their official website.
“The shareholdings in HV owned by Star Ball srl, a company (owned by Maurizio Setti) which had purchased them from HV7 spa, which in turn had acquired them from H23 spa, were seized – continues the press release. In 2020, the HV7 companies and H23 (attributable to Maurizio Setti) were declared bankrupt by the Court of Bologna at the request of the Volpi Group, which is the only entity to claim to be their creditor. There are no other substantial creditors of HV7 and H23. Both bankruptcies were revoked by the Court of Appeal of Bologna. The revocation of the bankruptcy of HV7 was definitively declared by the Court of Cassation with decision no. 29773/2023 of 26.10.2023. The Cassation confirmed the ruling of the Court of Appeal of Bologna, noting that the Volpi Group has not proven to be a creditor of HV7. HV7 – from which Star Ball srl purchased the shares in HV – has therefore returned to operation and activity. The confirmation or revocation of the bankruptcy of H23 is, however, still subject to judgment of the Court of Cassation. The Bologna Prosecutor's Office – alarmed by the press reports (which are completely unfounded) about the possible sale by Star Ball srl of the shareholdings in HV – deemed it appropriate, at the request of the Volpi Group's lawyers, to seize them preventively. He did so only in the event that, in the future, the bankruptcy of H23 were to be declared definitively and there was then a discussion about the legality of the transfer of the shareholdings made in the past by H23 spa”.
“Already in the past, the Volpi Group had attempted, without success, to make use of the criminal instrument of preventive seizure to attack Maurizio Setti and Star Ball srl, who then saw their reasons fully recognized by the Court of Cassation and then by the Court of Review of Bologna, which annulled the seizure of Setti's assets and that of Star Ball. The related proceeding, which had wide media coverage, ended in nothing and was dismissed by the GIP at the request of the Prosecutor's Office itself. Maurizio Setti and Star Ball srl are serene and calm, because they are convinced that they can demonstrate, even on this occasion, the correctness, legitimacy and lawfulness of their actions and the lack of the conditions for the seizure. They have therefore given a mandate to their lawyers to act immediately to challenge preventive seizure”, concludes the note.
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