Another chapter in the legal "saga" between Elliott and Blue Skye, another victory for the American fund that until August 2022 held the majority shares of AC Milan.
This is reported by Calcio&Finanza, recounting how yesterday morning "the Civil Court of Milan rejected the third and final lawsuit initiated by Salvatore Cerchione and Gianluca D’Avanzo's company against the US fund in Italy, bringing the number of cases lost by Blue Skye in our country to three out of three, with a conviction to pay legal costs."
This defeat adds to a rather significant list: to date, Blue Skye, which was a partner of Elliott (4.27%) in Project RedBlack, controlling 100% of Rossoneri Sport Investment, which in turn controls AC Milan, has not prevailed in any of the cases initiated in Luxembourg and concluded. Elliott commented on the "frivolous and harassing" 11 disputes initiated in Luxembourg, Italy, and the USA by Blue Skye. C&F also adds that "one of these complaints triggered the investigation by the Milan Prosecutor's Office into the sale of Milan."
In the near future, Calcio&Finanza reminds, "the first hearing of the private criminal prosecution (called 'citation directe' in Luxembourg) initiated by Elliott against Blue Skye in September 2023 is expected. With this action, the US fund has accused Blue Skye Financial Partners and its representatives of crimes including blackmail, extortion, and false fraudulent statements in support of its legal actions against the sale of Milan."
