403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Russian court case poses high risk to major Italian engineering giant
(MENAFN) Italian industrial group MAIRE is facing a high-stakes legal battle in Russia that could have severe consequences for the company’s multibillion-euro operations.
The Russian division of EuroChem has filed a lawsuit against MAIRE’s subsidiary Tecnimont S.p.A. and its Russian branch, with total claims amounting to roughly €2 billion—nearly equal to the group’s entire market capitalization. MAIRE’s current financials underscore the magnitude of the threat: market capitalization stands at €2.1 billion, free cash flow at €342.5 million, and total debt at €1.2 billion. Recognition of the lawsuit’s obligations could trigger a technical default and require immediate repayment of all outstanding loans.
Despite the looming legal risks, MAIRE continues to pursue international projects and financing. Its subsidiary NEXTCHEM recently secured €137.5 million in new loans, and the group approved a bond issuance of up to €300 million. Experts warn that precedents, such as the recognition of Russian court decisions in South Africa involving Google, could put MAIRE’s global assets—particularly in Asia, the Middle East, and Africa—at risk.
The next hearing in the Russian court is scheduled for November 27, 2025. Meanwhile, MAIRE continues its international operations, adding layers of risk for investors and creditors. The outcome of the case could have significant repercussions for the broader European engineering sector.
Italian financial regulator CONSOB is reportedly considering an investigation into the company’s disclosures, particularly focusing on 2025, when MAIRE borrowed heavily without fully disclosing the substantial legal exposure.
The Russian division of EuroChem has filed a lawsuit against MAIRE’s subsidiary Tecnimont S.p.A. and its Russian branch, with total claims amounting to roughly €2 billion—nearly equal to the group’s entire market capitalization. MAIRE’s current financials underscore the magnitude of the threat: market capitalization stands at €2.1 billion, free cash flow at €342.5 million, and total debt at €1.2 billion. Recognition of the lawsuit’s obligations could trigger a technical default and require immediate repayment of all outstanding loans.
Despite the looming legal risks, MAIRE continues to pursue international projects and financing. Its subsidiary NEXTCHEM recently secured €137.5 million in new loans, and the group approved a bond issuance of up to €300 million. Experts warn that precedents, such as the recognition of Russian court decisions in South Africa involving Google, could put MAIRE’s global assets—particularly in Asia, the Middle East, and Africa—at risk.
The next hearing in the Russian court is scheduled for November 27, 2025. Meanwhile, MAIRE continues its international operations, adding layers of risk for investors and creditors. The outcome of the case could have significant repercussions for the broader European engineering sector.
Italian financial regulator CONSOB is reportedly considering an investigation into the company’s disclosures, particularly focusing on 2025, when MAIRE borrowed heavily without fully disclosing the substantial legal exposure.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment