Mr Poppi concludes Judicial Appointment in 'Servizi Fiduciari' (Sicuritalia Group)

The judicial control of 'Servizi Fiduciari', a cooperative of Sicuritalia Group, has been concluded. It was ordered at the end of last June by the Preliminary Investigation Judge at the Court of Milan, following a request by the Public Prosecutor's Office, where Massimiliano Poppi was appointed as Judicial Administrator.

The Sicuritalia Group is the leading national player in the security sector and 'Servizi Fiduciari' alone has a turnover of over 135 million of euro and about 7,000 workers. In the course of the assignment - which turned out to be particularly complex - it was necessary to interact with the Ministry of Labour, with the main Trade Unions at national level and with the team of Consultants appointed by the Sicuritalia Group, belonging to Firms of primary standing.

Thanks to the continuous dialogue between the Company, its Consultants and the Procedure, under the constant supervision of the Judicial Authority, in just over three months significant issues were tackled. In particular, following the intervention of the Judicial Authority and as part of a broader reorganisation plan, the 'Servizi Fiduciari' company will be sold to another company of the Sicuritalia Group. Moreover, salary increases in favour of workers of more than 30% will be recognised over the next three years, with an expected investment of more than €100 million for the Group.

In carrying out the assignment, Mr Poppi was assisted by his entire Restructuring Team, which was supported by other Firm Departments: the Corporate Criminial Liability Team, and the Tax Litigation Team, which analysed the tax profiles related to the cooperative.