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me commissioners Francesco Ardito, Alessandro Danovi and Antonio Lupo break the last thread of dialogue with ArcelorMittal to package the relaunch of the ex Ilva, opening the way to the definitive judicial confrontation, in a very heated social context: Taranto unions are blocking the entry of goods at concierge C and yesterday afternoon Stefano patuanelli summoned workers’ representatives on the conflict. At this point, it is almost certain that the commissioners will want to enforce the guarantee given by the counterpart: it will be the last straw that breaks the camel’s back when removing the detonator to the new judicial dispute that, except for the scene, will lead to a turning point in Italian steel.
Yesterday morning in Milan, in a room of the Chamber of Commerce, the situation probably worsened irreversibly, during the third confrontation in the mediation procedure before the lawyer Stefania Pinto, in charge of verifying the possibility of an agreement between the parties . At the beginning of the meeting, the lawyer for the extraordinary procedure, Giuseppe Lombardi (BonelliErede studio), however, blew the negotiating table, rejecting the proposals of the consultants (Giuseppe Scassellati, Ferdinando Emanuele from the Cleary Gottlieb studio) of the world steel giant .
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Rejected payments
At the heart of the dispute is the payment of the rent for the steel mill to be paid in advance: there were two, now there are three of 22.25 million each. And they refer to the May-July, August-October, November-January 2021 canons.
On the occasion of the previous mediation hearing, Scassellati and Emanuele had proposed to pay the 44.5 million of the two installments, paying half in cash immediately and the other half always in cash, at a later date, on a date to be agreed . During yesterday’s session, however, Lombardi took the floor immediately, interrupting the process because, according to him, the debtor gave generic payment guarantees and therefore the commissioners believe that the delaying attitude shows that ArcelorMittal does not intend to comply with the payment obligation, making future strategies precarious.
On the part of the lawyers of the steel giant, however, the desire to find solutions was expressed, also extending the payment to the November-January quota. They would offer to improve the arrangements, paying all of the 22.2 million of the first installment and more than half of the second and part of the third. Given the wall erected by the commissioners, Arcelor would have proposed further improvements. But when the decision to interrupt the procedure arose with unequivocal evidence – the commissioners’ attorneys would have repeated four times to reject the proposals – the mediator had to acknowledge it by declaring the procedure closed.
Now the next step must be the execution of the guarantee of 90 million provided by Intesa Sanpaolo in the interest of Arcelor. Faced with this aggressive move, although expected because it is foreseen in the contract, Arcelor says it is ready for an appeal before the Milan court. At that time, the final violation of the modified contract would occur several times. For Invitalia Kpmg is concluding due diligence to enter ArcelorMittal Italia while Roberto Gualtieri said she wanted to find other suitors.
Last updated: 22:06
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