Property Abroad
Blog
Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

Abuse of the Santanque case: the Visibilia team is temporarily intercepted. The new approach is unsustainable financially.

By decision of the civil judge of theMilan Tribunal Amina Simonetti, the Visibilia Editore-Visibilia Editrice publishing group, publisher of Novella 2000, Ciak, Visto, Pc Professionale magazines and founded by the Minister of Tourism, Senator Daniela Santanquier, has been appointed commissioner (with the appointment of an interim administrator) in connection with a legal action filed two years ago by small shareholders who claimed "serious irregularities" in management and accounting.

The decision, which could have criminal consequences for the former administrators in the future, is based on the results of an accounting audit carried out a few months ago by accountant Daniela Maria Ausilia Ortelli.

Recommended real estate
Buy in Italy for 25000€

Sale flat in Rocklea with city view 26 996 $

1 Bedroom

1 Bathroom

35 м²

Buy in Italy for 85000€

Sale flat in Rocklea with sea view 91 786 $

2 Bedrooms

1 Bathroom

75 м²

Buy in Italy for 85000€

Sale flat in Rocklea with sea view 91 786 $

2 Bedrooms

1 Bathroom

75 м²

Buy in Italy for 595000€

Sale flat in Rome 642 506 $

1 Bedroom

2 Bathrooms

74 м²

Buy in Italy for 660000€

Sale flat in Rome 712 696 $

1 Bedroom

2 Bathrooms

83 м²

Buy in Italy for 548000€

Sale flat in Sanremo with sea view 591 753 $

2 Bedrooms

1 Bathroom

95 м²

The audit found serious irregularities in the last balance sheet, "organizational, accounting and administrative decisions" that "appear inadequate", doubts about the "continuity" of the company, and strong problems with the guarantees offered by Santancquier to cover inter-network debts.

Two prosecutors, Antonio Piantadosi and Giuseppina Gravina, pointed out a "significant conflict of interest" in the rescue plan of Visibilia Editore, which is controlled by Visibilia Editrice, proposing a capital increase of 1 million euros with a possible contribution of 600 thousand euros from Visibilia Concessionaria.

Minister Santanchè continued to support the idea, although small shareholders claim that the proposal was made only to prevent bankruptcy. Visibilia Editore continued to operate "in complete continuity with the previous management" with a "complete management mess" and "financial statements" that do not correspond to the reality of the company.

The court ruling could lead to repeat criminal bankruptcy charges for the group's former administrators.

Comment