Overview
- Extraordinary commissioners formally notified a liability action seeking €7 billion from ArcelorMittal and former managers in connection with the Taranto steelworks.
- Commissioners allege a deliberate 'killer acquisition' strategy from 2018 to 2024 featuring a parallel governance structure and the outsourcing of procurement, commercial distribution and treasury to ArcelorMittal group entities.
- The filing cites a progressive diversion of customer orders to other ArcelorMittal plants and related-party dealings that, according to the commissioners, weakened Acciaierie d’Italia.
- A separate claim of €947.4 million seeks compensation for alleged maintenance failures and damage to Ilva’s plants that curtailed output.
- The commissioners also lodged an exposé with the Milan prosecutor over possible irregularities in EU ETS production declarations, as ArcelorMittal continues international arbitration against Italy and Rome negotiates a potential sale to US group Flacks.