(see previous)
Arezzo's bankruptcy court on
Thursday declared the 'old' Banca Etruria insolvent, upholding a
request by bank commissioner Giuseppe Santoni.
The court instead rejected an objection that last year's
Banca Etruria bail-in was unconstitutional, filed by defence
lawyers for the bank's last president, Lorenzo Rosi.
The legal documents will now be transferred to the
prosecutor's office in the Tuscan city, paving the way for the
possible opening of a probe into fraudulent bankruptcy.
Premier Matteo Renzi's government stepped in to save Banca
Marche, Banca Etruria, CariChieti and CariFe at the end of
November, using financing from Italy's healthier banks.
The rescue saved jobs and protected account holders, but
rendered shares and bonds in the four lenders worthless.
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