25 October, Il Sole 24 Ore
The auction for the sale of Porta Vittoria in Milan will start soon. The area was previously owned by the real estate agent Danilo Coppola, who got bankrupted under a 400 million debt. His main creditor is Banco Bpm, with over 200-million-euro exposure, and the main concern now is the interest of the potential investors. The starting auction price to sell the entire complex is set at 152 million. The sale is scheduled for 29th November. The dossier is now in the hands of the three curators Vincenzo Masciello, Maurizio Orlando and Giorgio Zanetti.
But there is an obstacle to overcome. It all starts with the Tecnilens appeal. The company owns a nightclub (the Black Hole) next to Porta Vittoria, which has sued winning the cause, on the basis that the distance between buildings was not respected. Therefore, in July the Court of Milan ordered the demolition of a none-storey building in Porta Vittoria. The three curators have then appealed to defend the demolition. In the meanwhile, the auction date is approaching.
Source: Il Sole 24 Ore
Translator: Cristina Ambrosi