(Finance) – The instance of Steel mills of Italy (Adi) against the extraordinary administration of the former Ilva – aimed at obtaining protection from creditors to start, alternatively, the negotiated settlement of the crisis – was rejected by judge of the Court of Milan, Francesco Pipicelli. The ordinary Court of Milan, chaired by Fabio Roia, believes that it “cannot inhibit Invitalia, as a 30% minority shareholder of Adi, from requesting the opening of extraordinary administration” of the former Ilva. The rule of Legislative Decree no. 4 of 2024 – specifies the Court in a note – is in fact “clearly applicable to relationships already in progress at the time of its entry into force (19 January 2024). In abstract terms, the eventuality of the opening request would not lead, in any case , consequences which are in themselves prejudicial, with the public administration having the final say on the conditions for the admission of the entity to the invoked insolvency procedure”.
Admission – explains the Court of Milan – “does not necessarily lead to precluding the recovery process initiated through negotiated settlement, as the insolvency could ultimately prove to be concluded”. According to the Milanese judges “it is not possible to recognize a real contrast between the rule attributing the legitimation of the minority shareholder to institute extraordinary administration and the Euro-unitary legislation, not only because the negotiability of the crisis appropriately sanctioned at the Union level does not deny that domestic law can equip itself with ordinary insolvency procedures, but because nothing excludes that an active negotiation activity can find suitable space within the perimeter of these”.
“In light of the rejection by the Court of Milan of Acciaierie d’Italia’s request, it becomes clear that the French-Indian majority shareholder was unable to hinder the executive’s rapid work – reports the national secretary of the metalworkers’ Ugl, Antonio Spera –. At this point it is essential to accelerate the process of a change in governance with the aim of providing stability and continuity of work and production for the workers of Acciaierie d’Italia, subsidiaries, Ilva in As, related industries and transport, in compliance with their safety of themselves, of the environment and of the whole territory”.
“The sentence of the Court of Milan against Acciaierie d’Italia puts a firm point in this matter which becomes more dramatic every day. Yet another attempt by Adi to gain further time has failed, from now on we can finally try to revive the fate of the former Ilva without the private partner who in recent years has brought the factories to the historic minimum of production and which has accumulated over 3 billion in debts – states the general secretary of Uilm, Rocco Palombella –. We would have preferred a consensual exit for Mittal, but the only possible path apparently remains that of extraordinary administration. However, we ask the Government to avoid what happened in 2015, workers and contract companies must be safeguarded by accepting the requests they are making at this time. All jobs must be safeguarded and a redevelopment plan for the former Ilva must be launched immediately, protecting the environment and the territories. Adi’s attitude – concludes Palombella – towards the commissioners who left today without being able to really know the state of the plants and the quantity of raw materials available is disconcerting. This is yet another demonstration of the seriousness of the situation determined by this Governance. There are evidently a few days left before the total shutdown, the Government must hurry if it wants to save the former Ilva”.
Also today there were moments of tension when the delegation of the Ilva in As commissioner structure which started thefactory inspection after complaints from the unions regarding the progressive shutdown of the systems. Inspection which ended in nothing. “The commissioners of Ilva in extraordinary administration, at my request, went to the company to obtain the information necessary to reassure unions, workers and related companies regarding production continuity. They were told that this information cannot be given. This confirms what we think: the government must act and is acting – commented the Minister of Business and Made in Italy, Adolfo Urso –. Among other things, there is a climate of full social and institutional consensus, which demonstrates how strong the Italian system is. Together we will rebuild a first-rate steel industry in Italy.”
“The decision of the Court of Milan with which it rejects the request presented by Acciaierie d’Italia demonstrates once again that there is no more time. We need to act urgently to secure the largest steelworks in Europe, the workers, direct, indirect and procurement, and the environment – they declare in a joint note Michele De Palma, general secretary of FiomAnd Pino Gesmundo, confederal secretary of the CGIL –. Fiom has forwarded to the prime minister, the competent ministers, the House and Senate commissions and all the political forces the proposed amendments to the law decrees launched by the Government on the former Ilva, on related industries and on procurement, confirming what was communicated in the At the hearing in the Industry-Agriculture Committee of the Senate we asked that the two decrees take effect immediately and not after the declaration of extraordinary administration, with the aim of guaranteeing employment and production of the sites. Keeping the factories and related industries functioning is an essential condition for there to be investments also for decarbonisation and environmental protection”. Without prejudice to the fact that “our priority is the public increase in capital – they add – important decrees are necessary that changes be made, as the resources allocated are not sufficient. Furthermore, it is necessary to provide that the social safety net covers all the workers involved, including employees of medium and small companies, related industries and procurement. Among the proposed changes, we also ask for the blocking of the dismissals of workers in related companies who find themselves in difficulty. Hundreds of jobs are at risk. We ask for the resumption of discussion at Palazzo Chigi and for the political forces in Parliament to intervene to improve the two decrees and truly guarantee production continuity, social safety nets and the employment protection of workers both directly and employed in service contracts”.
“When what is happening in these hours around the former Ilva dispute, from the ruling of the Milan court which rejected the company’s appeal and the interrupted and uncarried inspection of the Taranto plant, they must commit the Government to immediately securing the company, simultaneously guaranteeing business, production and employment continuity – they stated general secretary of the FIM, Roberto Benaglia, and the national secretary Valerio D’Alò –. The possible start of the extraordinary administration must be preceded by a meeting to be held urgently with the union, to clarify all the aspects connected to this delicate step. What must absolutely be avoided is leaving the situation of the Taranto site and the entire group in a state of management uncertainty. It is necessary to intervene to strengthen the measures added in the latest decree to support both direct and contract workers in the event of a state of extraordinary administration. If the latter is the path to take, it will be essential, in addition to relaunching the company through new investments that make production environmentally sustainable, the employment protection of all the group’s workers.”