The legal action taken by Skye Blue against former AC Milan owner Elliott Management has been thrown out of court in Luxembourg with the proceedings having now ended.
As has been reported by Calcio e Finanza, on February 28, 2024, the Chambre du Conseil of the Court of Luxembourg issued a no-proceeding order, dismissing all criminal investigations against Rossoneri Sport Investment ( i.e. Elliott) and its respective executives, including Jean-Marc McLean, an employee of Elliott.
Blue Skye is a company owned by Gianluca D’Avanzo and Salvatore Cerchione and they have brought legal action against Elliott three times. All three have ended in failure and it is understood that they will be made to pay legal costs.
Blue Skye was Eliiott’s partner with 4.72% of Project Red Black. That was the company that controlled 100% of Rossoneri Sports Management and essentially owned AC Milan.
To date, Blue Skye and its partners have filed 11 civil lawsuits in three jurisdictions (Luxembourg, Italy and New York).
The news offers further peace of mind for RedBird Capital Group, Milan’s owners, over their position. Legal proceedings risk getting in the way of their plans to move Milan into a new stadium away from San Siro, as well as getting the team back to the top of the Serie A table.
Can someone explain please is this good or bad?😭
Good.
It means there’s no problem with the selling of the club so no problem with current management. (In law terms ofc)
👍👍
No way. I thought this b.s. fake news was part of the “toxic environment at the club.”
Good .There will be no problem in future if RB want to sell ACM .