Legal

Bio-on Trial and Skeletons in the Novamont Closet (FREE)

Serious accusations were made against Novamont during the Bio-on trial. This is a FREE article.

A frontal and disruptive attack that spared no one; from Consob to the Public Prosecutor’s Office.

To reiterate the extraneousness of the accusations made against Guido Cicognani, vice president of the former bioplastic giant Bio On which failed in 2019.

To do so, in front of the investigating magistrate Maria Cristina Sarli called to decide over the fate of 10 defendants accused of various title of market manipulation and fraudulent bankruptcy, were the lawyers of the former number two: Luigi Panella and Paolo De Miranda. 

A very tough speech with direct accusations towards Maurizio Salom (the accountant hired by Quintessential to make an opinion on Bio On), “who had positions in Novamont”, a rival company of Bio On, called into question for his “conflicts of interest “. “

Novamont SpA replied:

” What reported does not correspond to the truth and is without foundation. Novamont has not played a role or has taken actions aimed at influencing the events of Bio On or causing its insolvency Neither Novamont (a market leader that has existed for more than 30 years) could be considered a competitor of Bio On, whose objective was the production of a specialty to create products with characteristics and market positioning different from those of Novamont “.

Personal Remarks

Let me summarise … according to the lawyer … the accountant hired by the Hedge Fund “Quintessential Management” that wrote a destructive report and probably shorted on Bio-on had ….. positions in Novamont.

What a coincidence? But this doesn’t surprise me.

Funnily enough, Novamont has also been involved in pushing another company of the the cliff (read the following Anti-Oxo History).

My personal opinion is that a huge injustice had been done with regards to Bio-on. Why?

In the EU, you’re supposed to be innocent until proven differently but I’m still waiting to see official accusations and proves that Bio-on went rogue. In the meantime, Bio-on has been taken away from its owners by the Italian Justice ….

How is that even possible … in the EU?

Anyway, because I found this an injustice, I allowed Bio-on CEO to have a blog on my website ….because injustices need to be fought.

Then, I received “threats” mail because I allowed Bio-on CEO to express himself on my blog so I’ve sent all those threats letters to three judges in Italy.

What do I think of this?

Let’s cross fingers that the Italian justice will rectify the injustice done against Bio-on.

Because at this level, it doesn’t mind whether or not PHA (Bio-on is a PHA producer) is environmentally friendly. It’s about human rights …. the individual’s human rights and dignity …

Ladies and gentleman … act like gentlemen, don’t get involved in schemes to hurt people or other companies.

Refs

Bio On, tutte le accuse dell’ex vicepresidente

Bio On, Novamont chiarisce: “Mai concorrenti né rivali della startup”


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