Europe

Manfredi Lefebvre Dovidio fighting to protect his property

After years of legal proceedings, the lawsuit involving the two brothers could end on an upcoming appeal.

according to bloombergHis Italian brother Francesco owned Monaco-based luxury cruise line Silversea Cruises and others 20 years ago. It is said that he contested the ownership of the family holding company.

Manfredi Lefebvre, luxury liner tycoon

As head of the Heritage Group, the Monegasque Italian businessman has amassed an enormous fortune. The businessman soon dropped out of college, but went to work with his father, Antonio, at a family business, Silversea Cruises.

Under his father’s control, the business was already doing well, but Manfredi has grown it into a successful brand of luxury cruises. We don’t hesitate to invest in a number of companies, including those that specialize in luxury vacations, such as Abercrombie & Kent, which hosts safaris that cost more. Most recently, he is a former Barclays banker and has been involved in renewable energy development with his CEO at Telecom Italia.

long-term case

Francesco, a university history professor and eldest son, claims to own 52% of the holding company, according to court documents. In 2001, the two brothers reached an agreement. It was stipulated that Francesco would receive a holding company in addition to Rome’s assets, and in exchange Manfredi would keep the cruise business.

However, in 2008 Francesco claimed that the deal was not going according to plan. Manfredi replied that the deal was finalized as agreed. So the lawsuit was reopened in Italy, with Francesco claiming half of her Silversea Cruises, or his 52% of the company’s share price, worth about 800 million euros.

The case was initially dismissed, but in 2018 the Italian Supreme Court of Appeal reportedly ruled that the ruling in Manfredi’s favor was problematic.Francesco’s attorney declined to comment on the matter. Manfredi’s attorney said: “Manfredi fully complied with the terms of his contract with his brother. […] The claim for damages is completely unfounded.”

The lawsuit follows Francesco’s other unsuccessful lawsuits in Greece and Germany aimed at reviving the family-run Silversea Cruises. He also sued Royal Caribbean in Miami in May.In June, the American company and current owner of Silversea claimed the lawsuit was “an attempt to circumvent the Italian legal system.” petitioned the judge to dismiss the case.

The final outcome of the case is scheduled for December, when the next trial will take place in Bologna.



https://www.monaco-tribune.com/en/2022/08/manfredi-lefebvre-dovidio-fighting-to-protect-his-fortune/ Manfredi Lefebvre Dovidio fighting to protect his property

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