Company bankruptcies Francis Della Valle they were vitiated by grave illegitimacy. This is the sensational news that emerged from the folds of the trial against the 73-year-old Paduan entrepreneur, former managing director of Fidia, of the directors and auditors of the various group companies, accused of bankruptcy.
Twenty years after the crash of Valdefin Spa, the family finance company, of the operating parent company Lifegroup and of the subsidiaries Dermalife Spa and Researchlife Spa, a very different reality is emerging. Francesco Della Valle is fighting with all his strength to obtain justice. A first partial result was obtained a few weeks ago.
The consultants of the Court of Rome, which will have to express itself on the liability action brought by Della Valle against the State, have ascertained that the four companies had all the credentials not to go bankrupt.
According to the engineer Sergio Olivieri and Dr. Gianmarco Boccanera Valdefin Spa, Lifegroup Spa, Dermalife Spa and Researchlife Spa boasted total assets of ten million euro. The bankruptcy sentences handed down between 1995 and 1996 were all revoked by the Venice Court of Appeal ten years later (17 and 18 February 2005). But in addition to procedural flaws, substantial reasons are now emerging.
The Della Valle group was making substantial investments in the field of research and patents when the ax of the bankruptcy court irreparably interrupted its rise. Lifegroup and the other family companies were preparing to create one of the first Italian pharmaceutical giants. Francesco Della Valle, assisted by the lawyer Roberto Boev, made it a matter of principle. And he presented the Italian State with a very high bill: fourteen million euros, or the amount of the assets of the four bankrupt companies plus interest and monetary revaluation.
The delicate battle is being played out on two fronts. The party consultants are parading before the judges of the first section of the criminal court of Padua. Yesterday it was the turn of Dr. Giuseppe Righi, an expert appointed by Della Valle, to dispute the patrimonial and accounting reconstructions carried out by Dr. Carlo Pampaloni, consultant to the Public Prosecutor's Office and by the bankruptcy trustee Silvia Sanero Casalini.
Very different estimates have emerged. So much so that at the next hearing the court could dissolve the reservation and appoint one of its consultants, able to shed light on the financial position and accounts of the financial company Finlife Srl, and of the subsidiaries Infolife Srl, Idim Srl and Agrilife Srl, whose bankruptcies due to distraction are called to answer, in addition to Della Valle, the members of the boards of statutory auditors Sergio Cecchinato, 65 years old, from Abano, Antonio Di Nardo, from Pennapiedimonte (Chieti), Francesco Perrotta, 71 years old, from Rome, Peppino Profeta, 54 years old, from Guglionesi (Campobasso), Agostino Siviero, 71, from Abano, Giuseppe Tinelli, 61, from Lecce and Silvana Lorenzi, 62, from Naples.
Tuesday 13 January 2015 – Il Gazzettino.it
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Note: In 1975 Francesco Della Valle, manager of Fidia, a small pharmaceutical company in Abano (Padua) obtained the registration of Chronical. For Fidia and his Cronassial it is a triumph. Cronassial, which reaches 82% in moments of maximum impact on turnover, becomes the best-selling drug in Italy. Fidia, which in 1968, at the arrival of Della Valle, had a turnover of 600 million, leaps to 420 billion and takes fourth place in the ranking of pharmaceutical industries.
The Cronassial, however, is then banned from the German market. The following year, in Great Britain, the British forbade the sale of Cronassial, which is made from ox brain.
Subsequently, the drug will also be banned in Spain (for Guillain-Barré) and in other markets, while it will never obtain registration in the United States.
The sunset of Della Valle begins, that the masters of Fidia (mysterious individuals of an anonymous company based in Mendrisio, Switzerland) hunt. Sales of the Cronassial plummeted by the 95% until even in Italy it was outlawed.
Della Valle sets up on his own and founds the Lifegroup. Francesco Della Valle was the creator and largest shareholder of Lifegroup at the end of 1991, former managing director for two decades of Fidia (the fourth largest Italian pharmaceutical group) and, among other things, vice president of the Padua and Rovigo savings bank. Lifegroup was a group that employed 120 people, with a consolidated turnover of over 15 billion lire in '93. It was declared bankrupt by the Court of Padua on 19 July 1996. According to Della Valle, the bankruptcy was caused by the banks which, without giving any reason and notice, asked for the immediate repayment of the loans. With the bankruptcy Lifegroup closed and its assets sold off.
The revocation of the bankruptcy took place in 2005 and is argued by the Venetian Court of Appeal, on the basis of the pronouncement requested of the Consulta and starting from the line of defense of Elena Donzi legal by Della Valle, noting the illegitimacy of the procedures followed by the Padua Court. Basically, the "third party" of the judge was not guaranteed.
Della Valle is currently president of the Epitech Group which has an annual turnover of 10 million, of which 8 collected in the domestic market and two in the international one.
