Palermo court rules in favor of a film company’s appeal against the bank

Last Updated: October 25, 2023

The Palermo Administrative Court (Tar) has accepted the appeal of a Palermo film company that had requested public funding and was denied by the bank. Against Iccrea’s opinion, which denied a two million euro funding, the company K Srl, which manages two multiplex cinemas in the Palermo area, assisted by lawyers Girolamo Rubino, Rosario De Marco Capizzi, and Lucia Alfieri, requested and obtained a reassessment of access to the Sicily Emergency Enterprises fund. According to the bank, the funding would have significantly increased the company’s debt level, risking bankruptcy. However, the lawyers highlighted how the value of the company’s real estate assets, amounting to about 4 million euros, far exceeded the requested funding, ensuring solvency. The Tar, considering the company’s real estate assets and the revenue generated in the last two years, granted the interim injunction. Additionally, the Administrative Judge ordered an assessment to determine the “level of risk of the disputed funding.”