Hours Of Extraordinary Administration Procedure And Appoint The Board Commissioner Of Ilva S.p.a., For The Purposes Of The Ordinance-Law December 23, 2003, N. February 18, 2004, Conmodificazioni, 347, Converted By Law No 39 And Later ...

Original Language Title: Apertura della procedura di amministrazione straordinaria e nominadel collegio commissariale della S.p.a. Ilva, ai sensi deldecreto-legge 23 dicembre 2003, n. 347, convertito, conmodificazioni, dalla legge 18 febbraio 2004, n. 39 e successive...

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The MINISTER of ECONOMIC DEVELOPMENT Saw the December 23, 2003, Decree No. 347 concerning "urgent measures for the industrial restructuring of large enterprises in a State of insolvency", converted with amendments by law No 39 February 18, 2004, and subsequent amendments and additions (Decree-Law No 347/2003); Having regard to the Decree-Law No 1 January 5, 2015, bearing urgent provisions for the exercise of national strategic interest companies in crisis and for the development of the town and the area of Taranto┬╗; Having regard to Legislative Decree No 270 July 8, 1999; Having regard to the Decree of the Minister of economic development on April 10, 2013: ┬źregulation on determining the requirement of professionalism and repute of the judicial administrators and overtime procedures for extraordinary administration of large firms in crisis, according to art. 39, paragraph 1, of Legislative Decree No 270 July 8, 1999 '; Having regard to the request filed on January 21, 2015, with which Dr. Piero Gnudi, in the quality of special Commissioner of the Ilva S.p.A. (VAT 11435690158), appointed pursuant to Decree-Law No 61 June 4, 2013, calls, in accordance with art. 2, paragraphs 1 and 2-ter of Decree Law No 347/2003, the immediate admission of the Ilva S.p.A. to extraordinary administration procedure, pursuant to and for the purposes of the above mentioned Decree-Law No 347/2003; Examined the aforementioned instance and its annexes; Found that there is a dimensional occupational requirement provided for by art. 1 of the aforementioned Decree-Law No 347/2003, Ilva S.p.A. is, at present, a number of employees amounted to over 14,000 units, well above the de minimis threshold of law established in number not less than 500 units for at least one year; Detected, also the existence of the dimensional requirement concerning the indebtedness, given that Ilva S.p.A. has, to date, a total of approximately euros 2.9 Billion debt exposure, above the legal limit established in an aggregate amount of not less than 300 million; Having taken note of the statements in the instance with regard to the existence of a situation of insolvency of the undertaking, as illustrated and documented in the instance itself; Decided to appoint extraordinary Commissioners Dr. Piero Gnudi, the lawyer. Corrado Carrubba and prof. Enrico Laghi, in view of their specific expertise; Considering that the gentlemen, Dr. Piero Gnudi, avv. Corrado Carrubba and prof. Enrico Laghi, meet the requirements set out in Ministerial Decree of April 10, 2013 above mentioned; Considered the necessity that the Commissioners carry out promptly the acts necessary to ensure the continuation of activities in view of the transfer of complex enterprise, proposed by the company, including the company's instant temporary rent or branches thereof; Held the urgent need to provide;
Decrees: Art. 1 the company Ilva S.p.A. (VAT number 11435690158), based in Milan, viale Certosa # 239, it is allowed, effective immediately, to extraordinary administration procedure, according to art. 2 of Decree-Law No 347/2003.