Elliott Management have filed counterclaims against Blue Skye after the financial group filed a complaint over the sale of Milan to Red Bird.
Calcio e Finanza details how Blue Skye – led by Gianluca D’Avanzo, a former member of Milan’s board of directors, and Salvatore Cerchione – and their parent company Luxembourg Investment Company had filed an urgent appeal with the Civil Court of Milan to block the sale of the Rossoneri, but then dropped the complaint, and were ordered to pay €20,000.
Elliott Management have now gone on the attack and filed counterclaims in Luxembourg against Blue Skye and Giovanni Caslini, in relation to their respective breaches of contractual and fiduciary duties. Caslini was a central figure in one of the lawsuits filed by Blue Skye against Elliott in Luxembourg.
Red Bird purchased a controlling stake in Milan from Elliott Management last year, paying €1.2 billion and completing the acquisition in August.