Stop the shareholders' meeting of Banca Popolare di Sondrio. The Court of Milan prohibits the carrying out of the meeting scheduled for 17 December 2016, limited to the extraordinary part of the agenda, i.e. the proposal to transform Banca Popolare di Sondrio into a Spa.
According to the judge Marianna Galioto "the conditions exist for the unheard-of issue of the provision pursuant to article 700 of the Code of Civil Procedure as requested, substantially coinciding with the injunction to the shareholders' meeting of Banca Popolare di Sondrio, scheduled for next 17 December 2016, albeit limited to the extraordinary part of the agenda".
The court's decision thus accepts the appeal presented by the shareholder Marco Vital: "The requested provision - the judge points out - manifests itself as anticipating a sentence to 'not do' which obviously could not intervene in good time before the meeting already ' scheduled for December 17, 2016”.
The Court's decision weighs on the securities of Popolari (and former Popolari) banks. Over all, just the title Popolare di Sondrio, which lost 3,33%.
The president of Assopopolari, Corrado Sforza Fogliani, had previously expressed himself on the matter, to ask for the approval of a decree which provides for a postponement of the terms envisaged for the transformation into a joint stock company of the last of the major popular companies required to assume the new corporate form, on pain of losing the banking licence: "The current Government knows what it should do to prevent the attack on the Popolari from causing further damage, and in support of those local banks which are truly, and traditionally, of help to small and medium-sized businesses, of any sector".
