(Alliance News) - Clear Leisure PLC on Tuesday said a Venice judge has set a date to consider expert reports in the legal claim involving Sipiem SpA's previous executive management team.
Clear Leisure is investment company with a portfolio of companies primarily encompassing the leisure and real estate sectors mainly in Italy.
Clear Leisure said the judge has set the hearing for consideration of the expert reports for March 10, 2021.
The legal action originated when Sipiem's liquidator filed a claim against Sipiem's previous executive management team and internal audit committee for fraud and mismanagement in March, 2019.
Clear Leisure Chief Executive Francesco Gardin: "We are very pleased with the tight timeline, set by the Venice judge, for the Sipiem claim. The March 2021 hearing is expected to be extremely informative as the amount of claimed damages will be formally submitted by the independent expert in his report to the judge."
Clear Leisure shares were up 16% at 0.25 pence each in London on Tuesday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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