Italian Judges Reject Ilva Bid to Release Seized Steel
01/22/2013 - Italian judges have rejected a request by the ILVA steel works to release steel products seized as part of an environmental investigation, Reuters reported sources close to the case as saying.
Italian judges have rejected a request by the ILVA steel works to release steel products seized as part of an environmental investigation, Reuters reported sources close to the case as saying on Tuesday, 22 January 2013.
The finished and semi-finished products worth €1 billion ($1.33 billion) were confiscated last year as part of an enviromental damage and corruption probe, in a move which ILVA management has said threatens the future of Italy's biggest steel plant as well as a chain of others.
ILVA, which is owned by the private Riva Group, confirmed that it had presented a request for the seizure order on the steel to be lifted and said it would use the funds raised by selling it in the clean-up of the sprawling plant in Taranto in southern Italy…
