Berlusconi investment arm must pay £500m
Premier Silvio Berlusconi's family investment company was ordered today to immediately pay €560 (£797) million to a rival media group for corruption in the acquisition of the Mondadori publishing company — a devastating sum and a significant blow to the Italian leader.
The Milan appellate court, while upholding a 2009 verdict against Fininvest, reduced the damages from €750 million.
The civil damage award stems from a case in which three Berlusconi associates were convicted of corrupting a judge to overturn a ruling in favor of industrialist Carlo De Benedetti in the struggle for control of Mondadori in the 1990s.
Berlusconi's daughter Marina Berlusconi, who heads Fininvest, said the "totally unjust verdict" was part of a campaign against her father.
"The verdict represents the umpteenth scandalous episode of violent aggression that has gone on for years against my father, by all means and on all fronts, including entrepreneurial and economic," Marina Berlusconi said in a statement.
She complained that the award was worth twice Fininvest's share of Mondadori capital and said lawyers were already working on strategy for an appeal to the nation's highest court.
Berlusconi came under fire this week when he introduced a measure into Italy's austerity budget that would have allowed Fininvest to delay payment until the final appeal. Berlusconi hastily withdrew the measure under opposition political pressure, but even allies claimed to have been unaware that the measure had been buried in the package.
interviewThe producer and activist, Trudie Styler, whose film 'Filth' is up for five film awards, is tapping into the industry's neglected female talent
musicBlack Sabbath have pulled off one of rock music’s great comebacks – against all odds
interviewHer estate has become the nation's glossiest food empire
theatreTheatre's hitmaker Daniel Evans on 'Oliver' and bringing 'The Full Monty' to the stage
food + drinkMichelin-starred Tom Sellers on being this year's hottest property
tvParents (and kids) rejoice! A new wave of fantastic family entertainment is here
booksGeese, gorillas, grandads... and growing up
food + drinkHow one grocery e-tailer is gearing up for the Yuletide rush
food + drink
travelFor broadcaster Mishal Husain, a long-haul Club Med holiday was a chance for her family to explore its sense of 'zen' and 'animation'
food + drinkFestive snacks don't have to be fiddly, says Bill Granger
Hundreds arrested as Canadian police smash worldwide paedophile ring
Nelson Mandela: 11 inspirational quotes to live your life by
Ja Rule forced to deny leaving wife for prison cell mate
The 'terrorist' and the Tories: What did Nelson Mandela really think of Margaret Thatcher?
Crash pilot who threatened Ukip leader Nigel Farage found dead
- 1 Hundreds arrested as Canadian police smash worldwide paedophile ring
- 2 Sherlock series 3: Benedict Cumberbatch and Martin Freeman provide teasers for the biggest comeback in British television
- 3 David Duke: Former Ku Klux Klan leader expelled from Italy
- 4 Why Barcelona chose Everton to educate their latest prodigy
- 5 Japan cracks down on leaks after scandal of Fukushima nuclear power plant
- < Previous
- Next >
£30000 - £45000 per annum + Benefits: Harrington Starr: C# .NET Server Side De...
£50000 - £60000 per annum + Benefits: Harrington Starr: C# ASP.NET Developer (...
£60000 - £65000 per annum + Benefits: Harrington Starr: Senior C# WPF .NET Dev...
Negotiable: Harrington Starr: QA Manual Tester FX Trading Platform/Derivative...