Verona responds after Finance Guard seizure

Hellas Verona Football Club has provided an official clarification following news of an investigation launched against its president, Maurizio Setti, for alleged fraudulent bankruptcy.

The club has detailed that the seizure does not affect the assets of Hellas Verona F.C. but arises amidst ongoing legal disputes between the corporate groups of Maurizio Setti and Gabriele Volpi. Shareholder interests in Hellas Verona owned by Star Ball s.r.l., a company tied to Setti, were seized. These were originally acquired from HV7 s.p.a., which in turn bought them from H23 s.p.a.

In 2020, HV7 and H23 companies, tied to Setti, were declared bankrupt by the Bologna Court based on a push from the Volpi Group claiming to be their creditor. These bankruptcies were eventually revoked by the Bologna Court of Appeal. “The rejection of HV7’s bankruptcy was definitively declared by the Court of Cassation ruling number 29773/2023 dated 26.10.2023,” stated the club. The Court of Cassation confirmed that the Volpi Group had not proved themselves as HV7 creditors.

While the outcome regarding H23’s bankruptcy is still under the judgment of the Court of Cassation, the Bologna Prosecutor’s Office took precautionary measures. After rumors (although unfounded) about Star Ball s.r.l.’s possible sale of its interests in Hellas Verona, the authorities deemed it appropriate to preemptively seize these upon the request of the Volpi Group’s attorneys.

“These measures are in place in case the bankruptcy of H23 is definitively declared in future,” Verona clarified. The Volpi Group previously tried to use the tool of preemptive seizure unsuccessfully against Setti and Star Ball s.r.l. Their right to ownership was confirmed by the Court of Cassation and later by the Bologna Review Court. Both cases were eventually dismissed.

Ending on a confident note, Hellas Verona FC stated, “Maurizio Setti and Star Ball s.r.l. stay calm and assured, as they are convinced that they will demonstrate their integrity, legality, and legitimacy once again, as well as the lack of any seizure presumption.” The club further informed that their lawyers have been instructed to immediately contest the preemptive seizure.

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