AC Milan's minority shareholders Blue Skye are trying to block the sale of the club from Elliott to RedBird, as reported already before. Elliott Managment Corporation replied to the claims of Blue Skye in a statement. But now there is a new important update.
A US judge authorized the minority shareholder of Milan Blue Skye to obtain documents in a legal attempt to prevent the US fund Elliott Investment Management from completing the sale of the majority of the AC Milan club based on a valuation of 1.2 billion euros.
Blue Skye which owns 4.27% of Project Redblack (the company that controls 100% of Rossoneri Sport Investment Sarl and which in turn controls 99.93% of Milan) has accused Elliott Management Corporation of 'working behind closed doors' in negotiations to sell to RedBird without consulting with them too.
US District Judge Katherine Polk Failla in Manhattan said Blue Skye met legal standards to obtain a "limited" number of documents required to be used in court proceedings in Luxembourg to block the divestiture or obtain compensation.
Article from: Calciomercato.com
