Rome The lack of “no action” conditions. To Civitavecchia CourtJudge Francesco Filocomo is the motive behind the issuance of the indictment in the Alitalia crash.
The decree, available in full since yesterday, refers 15 to trial between former CEOs and former directors of the now extinct national airline including Luca Cordero di Montezemolo and Roberto Colanino. The top men of the Emirates airline, Etihad, who should have re-launched Alitalia, will also be on trial: Mark Kramer Paul and James Hogan.
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Claims Challenge
If it is true that the accused is innocent until the final judgment is issued, The charges – for some now, now for others – are a challenge:
– vote in favor of Alitalia’s 2015 financial statements that the court suspects of being “falsely certified”;
– a proper valuation that will lead to a “spurious” capital gain from the millionaire;
Reluctance to portray the company as working even if it loses 60 million per month on average;
Catering costs for a dinner party and four corporate events “have nothing to do with reasonable business needs.”
Alitalia plays, throughout this story, two parts in the comedy: he is the victim of alleged bankruptcy and other crimes (defending – as a civil party – by lawyer Roberto Borgogno); He is also accused (defended by Giusepina Morelli).
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Meanwhile, the decree calls for questioning of former Alitalia CEO (Kreamer Paul); James Hogan (Former Vice President); Montezemolo, a director with CEO authority for approximately 6 months, between 2015 and 2016; and four executive directors. The presumed crime is bankruptcy.
debt increase
The court challenges the approval of the balance sheet (in 2016 and 2017) and above all the “falsely certified” 2015 financial statements (Colaninno will also have to answer this specific point). Approvals will be provided “Positive data differs from the truth allowing for a gradual increase” of debt.
The court also complains of “false capital gains recorded in 2016 for $39 million”. Here is the court Mention the pair of hatches (landing and departure rights from Fiumicino to London Heathrow) It’s worth at least 60 million, but was reported on the balance sheet for 21. In this way, the “false capital gain of 39 million”, created to hide the “serious decline in equity”, would have formed.
The operation in the boxes was also carried out on the basis of an assessment from a consulting firm (at a cost of €35,000 plus expenses); But he wrote it “very much the Alitalia staff.”.
In the end, Cramer Paul, Montezemolo, and the CEO failed to “represent the lack of a business continuity assumption”. Alitalia was nearing the end. But no one raised the alarm. however The company was losing 60 million a month on average; He accused “significant discrepancies between the cash forecasts approved in 2015 and 2016 boards of directors” and actual collection.
In Montezemolo, Kramer Ball and CEO An account of €133,571 is also required to cover food expenses consumed at board meetings (The beneficiary is the company Relais Le Jardin); 5,961 euros for a dinner party (Casina Valadier); From €458,077 “initially subsidized by the union for four corporate events and then improperly shipped back to Alitalia”.
Oddly enough, Alitalia, now working in exceptional management, is also accused. The company – the victim of alleged bankruptcy – In turn, you will be held accountable for an administrative violation (For fake institutional contacts and an obstacle to exercising the functions of supervisory authorities). Alitalia, in essence, “failed to equip itself with an adequate organizational model” to prevent the ongoing crime chain.
inconsistent operations
Finally, the “inconsistent” operations of Alitalia would have benefited the Darwin-Union Territory (with losses for the Italian company between 43.7 and 54.5 million); and the Union (with 44 more losses). example above all. Route Geneva – Florence and Geneva – Venice. Darwin – Federation Territory takes off every day on a 50-seat plane.
The trade agreement stipulates that Alitalia will pay 40 of the 50 seats Even if he couldn’t sell tickets. Historically, however, the court wrote, “it was known that Darwin-Union Territories were only able to sell 2 or 3 seats per flight.”
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