BlackStone back to the attack in lawsuit against Rcs filed by the US fund on the failure to sell the headquarters of the Corriere della Sera ad Allianz after the arbitration award in Milan in his favor. According to what is reported by the Print, the lawyers of the stars and stripes group wrote to the judges of the Supreme Court to inform them that they have won this judgment in Italy: by June 30th they will communicate if they want to amend their proceedings, or go ahead with those already presented.
In November 2013, RCS had sold the three buildings in via Solferino, via San Marco and via Balzan to Blackstone, for 120 million, then re-letting the premises. Po properties offered for sale in Allianz for 250 million euros. Three days later, the Americans received a letter from Cairo declaring the 2013 deed null and void, because the fund had taken advantage of her company’s difficult conditions to force her to sell off the buildings.
According to reports Milan Finance, the world’s largest real estate investor managed by president e Ceo Stephen Allen Schwarzman intends to define a aggressive legal strategy. Because as stated in the letter sent today by the law firm Kirkland&Ellis LLP ad Andrew Borrok, New York Court Second District Judge, Blackstone is considering merging the two claims for damages (for unlawful interference in commercial relations, slander, breach of the contract and of the pact of good faith and fairness) filed on November 20, 2018: cases frozen by judge Saliann Scarpulla pending the definition of the Lodo Solferino, as well as the investigation for usury opened by the Milan Public Prosecutor who then asked for the same to be archived, which was opposed by the small RCS shareholder who had filed the complaint.
As the lawyers of Kirkland&Ellis, “plaintiffs will file an amended complaint by June 30, taking into account the decision and findings of the Milan arbitration panel, or inform the defendant’s attorney that the plaintiffs do not intend to file an amended complaint (and will proceed with the current complaint)“.
Translated? By unifying the double lawsuit with the Italian publishing house (300 million) and its owner (300 million), it is not excluded that Blackstone, reports the group’s newspaper Class, instead of asking for damages from RCS and Urbano Cairo, he decides to rely exclusively on either the Milanese company in via Rizzoli which owns, among other assets, Corriere della Sera and Gazzetta dello Sport, or against the Piedmontese entrepreneur who controls the group through Cairo Communication (65.3% of voting rights). In bag for the moment the title that publishes the CorSera has not reacted negatively: RCS travels above par at 0.7 euros. The parent company Cairo, on the other hand, fell by over 1% to 1.828 euros.