Orrick Obtains Full Acquittal of Daniele Cabiati in Banca Etruria Trial

July.05.2022

Orrick’s Jean-Paule Castagno obtained the full acquittal of Daniele Cabiati, former General Manager of Banca Popolare dell’Etruria e del Lazio, in criminal proceedings pending before the Court of Arezzo in relation to allegations of bankruptcy, on the grounds that 'the fact does not exist'.

According to the Public Prosecutor, the members of the Board of Directors, aided and abetted by the General Manager, allegedly spent a significant portion of the bank’s assets in “manifestly imprudent transactions” by entrusting an external consultancy assignment to a well-known credit institution, which contributed to the bank’s collapse.

This success comes thanks to an intense defence activity that, not limiting itself to providing the correct temporal framework of the assignment carried out by Mr. Cabiati (who intervened only in the payment phase and not in the entrusting of the consultancy assignment), has thoroughly demonstrated the economic-financial rationality of the assignment conferred, thus bringing to light the advantage, not to say necessity, for Banca Popolare dell'Etruria e del Lazio in entrusting said assignment.

Jean was appointed as counsel of record by Daniele Cabiati and was supported in the trial by Andrea Alfonso Stigliano and Chiara Bettinzoli.