Visibilia Editore, a company which had as its first shareholder (sold its shares) the senator of Fratelli d’Italia and current Minister of Tourism Daniela Santanchè, and which she founded, “is in evident and manifest state of insolvency”. The Milan Public Prosecutor’s Office writes this in the application for “judicial liquidation”, ie bankruptcy. Request made starting from a complaint of the minority shareholders after the analyzes of the Economic and Financial Police Unit of the Gdf, coordinated by the prosecutor Roberto Fontana. Analyzes that automatically lead to a bankruptcy file that would be evaluated by the former directors, including Santanchè.
Payables to the Inland Revenue for 984 thousand euros
The news of the bankruptcy filing was published on Libero on 2 November on the basis of a press release from Visibilia, listed on Euronext Growth Milan, which reported on it. The request for judicial liquidation was formulated by the Public Prosecutor’s Office in recent days and the Bankruptcy Court has set a hearing to discuss it for November 30th. In the application, the Public Prosecutor reports debts on the part of the company towards the Revenue Agency for approximately 984 thousand euros. The GDF has analyzed, as is clear from a report, the financial statements “between 2016 and 2020”. And he highlighted “constant losses already starting from the 2016 financial year” and, reviewing all the issues of the minority shareholders’ complaint (which also gave rise to a civil suit for “serious irregularities in management”), also hypothesizes alleged ” false corporate communications “relating to the financial statements, at least from 2017, with” particular regard to the items ‘goodwill’ and ‘prepaid taxes’ “.
Investigations on liquidity injections
Santanchè was president and CEO of the company from 2016 until last January. In November 2014, we read, Visibilia Editore Holding, “in the person” of Daniela Santanchè, “subscribed and released the capital increase” of the “newly incorporated Visibilia Editore” and this “generated the goodwill value” of over 4 , 3 million euros. As early as 2017, writes the Gdf, the Visibilia board of directors “should have approved financial statements showing goodwill values and deferred tax assets that differ widely from those approved”. At the center of the investigations also “the injections of liquidity deriving” from a loan through a convertible bond loan which, it is clarified, “have allowed the continuation of the entrepreneurial activity but also, in fact, caused the collapse of the regressed share value of 99 , 97% “.
The company’s losses, it says, were calmed “by the erroneous accounting of the assets ‘goodwill’ and ‘prepaid taxes'”. Lastly, tax payables are currently not “paid in installments”. The investigations for the hypothesis of bankruptcy, but probably also for false company communications, against the former directors are consequent to the application.