Riva Group, former owner of ILVA steel group, has filed a lawsuit at the regional administrative court of Italy’s Lazio region to annul the Italian government's decree which has put Ilva companies and plants up for sale, according to Italian media reports. The assets in question include Ilva Spa, Ilva Servizi Marittimi, Ilvaform, Innse Cilindri, Sanac, Taranto Energia, Socova and Tillet.
The Riva family managed the steel group prior to an Italian government takeover in 2013 following a series of court orders dealing with serious environmental problems caused by the steelmaker at its huge plant in Taranto in southern Italy.
The new lawsuit filed in the name of Riva Group's financial institution Riva FIRE is against the Italian government, the Environmental and Industry Ministries, the special commissioners who are currently managing Ilva, as well as the company itself under special administration.
In the lawsuit, Riva Group maintains that it managed Ilva "within the atmospheric emissions limits" established by the Italian Environmental Ministry in 2011, while afterwards "Ilva was managed at a loss and deprived of any industrial prospects”.
The lawsuit also states that Ilva lost €2.4 billion under special administration by the Italian government in 2013, and that the government's administration led to the company's insolvency.
A court in January this year declared Ilva insolvent, with debts totaling nearly €3.0 billion.
On January 4 , the Italian government signed a decree putting the Ilva facilities up for sale as part of efforts to keep the struggling steel manufacturer alive. Would-be buyers until February 10 to submit their offers.