Hours Of Extraordinary Administration Procedure And Appoint The Board Commissioner Of Sanac Spa In Milan.

Original Language Title: Apertura della procedura di amministrazione straordinaria e nominadel collegio commissariale della Sanac Spa, in Milano.

Read the untranslated law here: http://www.gazzettaufficiale.it/atto/serie_generale/caricaArticoloDefault/originario?atto.dataPubblicazioneGazzetta=2015-03-09&atto.codiceRedazionale=15A01700&elenco30giorni=false&atto.tipoProvvedimento=DECRETO

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 (hereinafter Decree-Law 347/03); Having regard to the Decree-Law January 5, 2015, # 1, containing "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 its Decree dated January 21, 2015 whereby ILVA SpA is admitted to extraordinary administration procedure and appointed extraordinary Commissioners Dr. Piero Gnudi, the lawyer. Corrado Carrubba and prof. Enrico Lakes; Having regard to its Decree dated February 19, 2015 by which he is appointed the Monitoring Committee in the procedure described above; Having regard to the request on February 16, 2015, by which extraordinary Commissioners require, in accordance with art. 3, paragraph 3, of the aforementioned Decree-Law 347/03, admission to special administration of the Sanac SpA, indirectly controlled by ILVA SpA, via the ILVA Commerciale Srl; Noted that, as shown in the above instance and attached documentation, the conditions under art. 3, paragraph 3, of Decree-Law 347/03, also with regard to the situation of the insolvency of the firm, for the purpose of extending the extraordinary administration procedure; Visto l'art. 85 of that legislative decree 270/99, which provides that the extraordinary administration procedure of the Group's companies are responsible for the same organs appointed for the mother; Consequently deemed it necessary to provide for the admission to extraordinary administration procedure and the preposition to the same organs already appointed for ILVA SpA;
Decrees: Art. 1 the company Sanac Spa, Vat n. 12430950159, based in Milan, is admitted to extraordinary administration procedure, according to art. 3, paragraph 3, of Decree-Law 347/03.