Vatican's Legal Battle: British Court Ruling on London Property Investment

A British court largely supported the Vatican, while rejecting a financier's claim of 'good faith' in a USD 375 million property investment. Raffaele Mincione sought to clear his name since being convicted by the Vatican tribunal. The court found that Mincione prioritized personal interests over the Vatican's.

A British court has largely sided with the Vatican in a contentious case involving a substantial property investment, refusing to declare that London-based financier Raffaele Mincione acted in 'good faith.'

Mincione had pursued a ruling to vindicate his name after a Vatican tribunal convicted him in connection with the Holy See's failed 350-million euro investment deal in London. Despite his efforts, the High Court concluded that the Vatican felt 'utterly let down' by Mincione's management of the funds.

The ruling stated that Mincione and his associates did not protect the Vatican from financial harm and prioritized their interests. Mincione, maintaining that the English court confirmed his integrity, plans to appeal alongside others, including a cardinal convicted by the Vatican court.