Acciaierie d’Italia Seeks €7 Billion Damages from ArcelorMittal

The administrators of Acciaierie d’Italia, formerly ILVA, are demanding €7 billion in damages from previous owner ArcelorMittal. This legal action was reported in the Financial Times and involves a complaint filed with a Milan court. The case highlights the ongoing issues related to the steel plants' management.

Italian steelmaker Acciaierie d'Italia's administrators have filed a lawsuit seeking €7 billion in damages from ArcelorMittal, the plant's former owner. The Financial Times reports that the complaint was lodged with a Milan court recently, intensifying the legal disputes surrounding the management of the steel facilities.

The legal case underscores the strained relations between the Italian company, formerly known as ILVA, and ArcelorMittal, who managed the steel plants for a period. The sum involved, approximately $8.17 billion, reflects the significance of the claims made by Acciaierie d'Italia.

This development adds a new layer to the ongoing challenges in the steel industry and raises questions about the potential outcomes of such high-stakes litigation.

(With inputs from agencies.)