AC Milan’s former owner Yonghong Li has gone to court to try and seize €364m after filing a lawsuit against Elliott Management over the sale of AC Milan, a report claims.
According to what is being reported by Il Sole 24 Ore (via SempreMilan.it), the former Rossoneri president Yonghong Li allegedly requested the seizure of €364m from Elliott in Luxembourg.
The Chinese businessman was assisted by lawyers from the Cleary Gottlieb firm, and he allegedly filed for legal action against the American fund, making the request to the Luxembourg Court.
The case involves Rossoneri Sport Investment and Project RedBlack who are the two companies that essentially control Milan.
Elliott are likely to appeal the notion and therefore it could drag on for some months in court, while it must be remembered that Blue Skye are also aiming to take them to court in an attempt to block the sale of the club to RedBird Capital.