The American fund Elliott has officially started the enforcement of the pledge of the shares of Milan through the vehicle company Project RedBlack. Within 48 hours, at most 72, the Luxembourg court will endorse the enforcement procedure which will then be handed over to Josh Swidler, Elliott's Senior Potfolio European Manager who will instruct the management of the club which calls for the Board to be convened to convert the credit in shares and also to put in the club 150 million between cash management and the market.
On Thursday and last Friday, thanks to the work of the pool of six lawyers of the law firm K & L Gates, Elliott had already instructed the enforcement procedure, with the acceleration reached after the breach of the covenant for the non-repayment of 32 million euro from part of Yonghong Li. This is reported by milannews.it.
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