Former Ilva, state guarantee on future sales

Former Ilva state guarantee on future sales

(Finance) – The State could place a guarantee on the future sale of the former Ilva, to protect the next buyer against a possible legal dispute by Arcelor Mittal. This is what emerges from the rules included in the Agriculture Decree developed by MIMIT. The protection would be absolute even in the event of the State losing the case.

“In the event that the sale is declared null or void, as a result of defects in the documents of the extraordinary administration procedure or the sale procedure, – we read in the draft – the effects of the sale remain firm towards the buyer and the compensation of any damage due occurs only by equivalent”.

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