Wednesday, July 27, 2011

Berlusconi paid a penalty of more than 560 million euros regarding Mondadori case

The business group Fininvest, owned by Italian Prime Minister Silvio Berlusconi has been paid the penalty of about 560 million euros imposed by the Court of Appeal of Milan on corruption unleashed in the struggle for control of Mondadori. The Italian conglomerate CIR (Industrial Companies Reunidas), recipient of the penalty, said in a statement Tuesday that this concrete has received 564.2 million euros of Fininvest, by way of compensation for property damage caused by not having been able to control of Mondadori.

The business group of Italian Prime Minister, who chairs his eldest daughter, Marina Berlusconi, has been required to award the penalty to the character "immediately enforceable" in the same, although it has already announced that the recourse to the Supreme Court . In the statement, CIR expresses "full confidence that the good reasons for his company" recognized in both first and second civil degree of this process will also be endorsed by the Supreme Court in the future.

On July 9 the Court of Appeal of Milan again condemned to Fininvest to compensate financially for the case CIR Mondadori, although lowered by 190 million euro fine imposed in the first degree, which was 750 million euros. The conviction on appeal amounts to 540 million euros, to which add interest and legal fees since the award was made in first grade, so the final payment by Fininvest rises to 564.2 million euros.

Berlusconi's group, which controls, among other companies, Mediaset media and Milan Football Club, was sentenced in October 2009 in the first instance to pay 750 million euros to CIR, editor of the newspaper "La Repubblica" in concept redress for the struggle for control of Mondadori. The facts date back to the early 90's, when the group of Berlusconi and CIR, both Mondadori shareholders at the time resorted to the courts to decide who was entitled to keep the family Formenton actions, heir to the historical leader publisher, Arnoldo Mondadori, which gave control of the company.

On June 20, 1990, the court decided that the agreement Carlo de Benedetti, CIR, had arrived with the family before this change of opinion in favor of Berlusconi was the one that was valid, a decision was subsequently appealed by Fininvest, whom a court of Rome was right in 1991. Subsequently, the case was reopened by the criminal proceedings to determine whether there had been irregularities in the process and Cesare Previti, a former lawyer of the prime minister was convicted in 2007 by the Supreme Court to one year and six months in prison for bribing one of judges who took charge of the affair, while Berlusconi unscathed.

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