ArcelorMittal (MT NA) announces that it has been served by the Extraordinary Commissioners of Acciaierie d'Italia, with a writ of summons to appear before the Court of Milan
Importance
Level 1
- "ArcelorMittal sees no factual nor legal basis for this claim and will defend its position vigorously before all the competent venues."
- "ArcelorMittal categorically rejects any and all allegations set out in the claim, including, but not limited to, allegations that it induced ADI's directors and local management to engage in acts of mismanagement as part of a "unified" strategy to run down the plants, "destroy" ADI and its business, and ultimately "loot" profits out of Italy, causing ADI damages of approximately EUR 7bln."
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