Riva Group sues to annul ILVA sale

(ANSA) - Rome, February 5 - The Riva Group, former owner of the ILVA steel group, has filed a lawsuit with Lazio's regional administrative court (TAR) to annul the government's decree putting ILVA companies and plants up for sale, ANSA learned on Friday.
    The Riva family owned the steel group prior to a government takeover in 2013 following a series of court orders dealing with serious environmental problems caused by the steel maker at its huge plant at Taranto in Puglia.
    ANSA acquired a copy of the lawsuit filed in the name of Riva Group's financial institution Riva FIRE against the Italian government, the Environmental and Industry Ministries, the extraordinary commissioners now managing ILVA, as well as the company itself under special administration.
    In the lawsuit Riva maintains that it managed ILVA "within the atmospheric emissions limits" established by the Italian Environmental Ministry in 2011.
    "ILVA was managed at a loss and deprived of any industrial prospect," the lawsuit reads.
    The lawsuit states that ILVA lost 2.4 billion euros under special administration by the Italian government in 2013, compared to private management in 2011, and that the government's administration led to the company's insolvency.
    A court in January this year declared ILVA insolvent, with debt totalling nearly three billion euros.
    "From the time of his appointment, Commissioner Gnudi has shown that he considers the sale of the business the only possible result of the procedure," the lawsuit reads.
    Gnudi, formerly an ILVA sub-commissioner, was named to the position of extraordinary commissioner in January along with Enrico Laghi and Corrado Carrubba.