By canceling the franchise, Toto collected 1.2 billion

the main points

  • Ministerial decree
  • The message is from the dead

Initial compensation and a government table contract to close the file permanently. The embargo has been lifted on the tortured story of Strada dei Parchi (SdP), the Toto group company to which the Draghi government revoked the A24/A25 motorway concession a year ago, claiming it had not carried out the necessary bridge maintenance. Now, after the L’Aquila and Teramo courts have acquitted the company’s top management because “the truth does not exist,” the government has decided to step in to rectify the situation.

Ministerial decree

The first step is an interministerial decree signed by Ministers Matteo Salvini and Giancarlo Giorgetti, approved on July 7, 2023, which recognizes an initial compensation of €1.2 billion for the sustainable development programme. Il Sole 24 Ore took possession of it and on page 5 we read that the intent is to “provide, under the influence and effect of Article 7-III, Paragraph 11, of Decree-Law No. 68 of 2022 (Draghi Law) to determine the amount stipulated in the fourth sentence of Paragraph 1 of Article 35 of Decree-Law No. 162 of 2019”.

To this end, the Department of Infrastructure and Transportation (MIT) has entrusted the task of evaluating the amount to an independent audit firm, E&Y, which has established At about 1.2 billion – to be exact – the number you decree He made his own.

With this money, on the one hand, it was established that the remaining franchise price should be paid toAnas (annuity fixed at that time by the European tender that won the SdP) for 830 million (actually after deducting the 2017 and 2018 installments, deferred by law and for which payment terms were not met, net 720 million), while with the remaining part of the compensation, just under 480 million, Toto Group will pay 100% of the suppliers and fully recover from the bank’s exposure.

This will allow it to respect the obligations of the agreement with creditors made in April, which are indispensable due to the fact that last year’s confiscation decree deprived it of any form of revenue. Passage, this conclusion in Bonice for the composition, which will not be sanctioned until after the decision of the judge of the Civil Court of Rome definitively on 28 July.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *