Italy

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Soccer-Parma Officially Declared Bankrupt

Stricken Italian Serie A side Parma were officially declared bankrupt on Thursday, a day after their chairman Giampietro Manenti was arrested in a money-laundering probe, Reuters reported. Parma's players have not been paid all season and it took ju ...

Daily Headline - global.abi.org - 03/19/2015 - 22:37 - 0 comments

Soccer-Parma Officially Declared Bankrupt

Stricken Italian Serie A side Parma were officially declared bankrupt on Thursday, a day after their chairman Giampietro Manenti was arrested in a money-laundering probe, Reuters reported. Parma's players have not been paid all season and it took ju ...

Daily Headline - global.abi.org - 03/19/2015 - 22:38 - 0 comments

Europe’s South Tackles Tax Evasion—Again

Italy’s latest effort to address its chronic tax evasion problem is keeping Tancredi Marino very busy. The Milan-based tax lawyer is hiring extra attorneys to handle dozens of requests from Italians looking to use an imminent amnesty to bring back money ...

Daily Headline - global.abi.org - 01/22/2015 - 23:26 - 0 comments

Italy Unemployment Rises to New High, Showing Europe Divergence

Italian unemployment unexpectedly rose to a record high that’s more than double the German rate, keeping alive concerns about the diverging growth outlook in the euro area, Bloomberg News reported. The jobless rate increased to 13.4 percent from a revise ...

Daily Headline - global.abi.org - 01/07/2015 - 22:40 - 0 comments

Country Reports Spring 2014

Russia : Bankruptcies in the banking sector . At the end of 2013 and the beginning of 2014 a number of Russian banks had their licenses revoked. France : Commercial code or the civil procedure code? The French commercial code gives a ...

Resource Article - abi_admin - 12/11/2014 - 14:30 - 0 comments - 1 attachment

Italy's Lucchini Nears Deal To Sell Core Steel Assets To Algeria's Cevital

Italy's second-largest steelmaker Lucchini will ask the Italian government for permission to sell its Piombino complex to family-owned Algerian conglomerate Cevital, the company said on Tuesday, Reuters reported. Lucchini was previously owned by Rus ...

Daily Headline - global.abi.org - 11/25/2014 - 22:41 - 0 comments

Monte dei Paschi Reports Nearly $1 Billion Loss in Third Quarter

Monte dei Paschi di Siena, Europe’s oldest bank and one of its most troubled, on Wednesday reported a loss of 797 million euros, or $991 million, in the third quarter after it drastically increased the amount of money set aside to cover problem loans, th ...

Daily Headline - global.abi.org - 11/12/2014 - 21:45 - 0 comments

Monte dei Paschi di Siena’s Former Executives Sentenced to 3.5 Years in Prison

Three former managers blamed for the crisis that has befallen the world’s oldest bank, and devastated the community whose economy depended on it, were sentenced on Friday to jail time and banned from public office for five years, the International New ...

Daily Headline - global.abi.org - 11/02/2014 - 19:53 - 0 comments

Italy’s Monte Paschi Discussing Capital Options With Government

Italy’s Treasury has not ruled out extending repayment deadlines on hundreds of millions of euros in state aid to help troubled lender Banca Monte dei Paschi di Siena as it struggles to raise fresh capital, according to sources, the Irish Times repor ...

Daily Headline - global.abi.org - 10/28/2014 - 23:03 - 0 comments

Italy, France Back Off From Budget Clash With Brussels

Italy and France backed away from a clash with the European Commission over their 2015 budgets on Monday by pledging extra measures to cut their deficits, The Wall Street Journal reported. The move comes after the commission, the European Union’s exe ...

Daily Headline - global.abi.org - 10/27/2014 - 22:09 - 0 comments

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