Prospectus - Notowania

211
>> Condensed Consolidated Financial Statements
Part E) – Information on risks and related risk management policies
The banks are asked to provide compensation for damages equal to: a) the total of bankruptcy liabilities (Euro308.1 million);
or b) amounts disbursed by C Finance to Fin.Part and Fin.Part International (Euro193 million); or c) the amount collected by
UniCredit (Euro123.4 million).
In another area, the banks are being asked to return the amounts collected (Euro123.4 million in addition to Euro1.1 million in
commissions) due to the alleged invalidity and illegality of the case, or for an illegal reason involving all the parties to the
complex deal that the transaction in question allegedly turned into. This transaction was aimed at paying the debts of Fin.Part
to UniCredit through the illegal transfer of wealth from C Finance to UniCredit. In addition, the transaction was allegedly a
means for evading Italian laws on the limits and procedures for issuing bonds.
The UniCredit Group’s legal counsel is assessing procedural aspects and the relationship between the accompanying
petitions of the two bankruptcies including on the basis of the appeal pursuant to Article 101 of the Bankruptcy Law, filed by
the C Finance Bankruptcy against the Fin.Part Bankruptcy.
In January 2009 the judge rejected the application for attachment against the defendant, which is not a part of our Group, in a
structured order that contained numerous findings deemed favorable to our position as well.
In the opinion of UniCredit, based on the information provided by its legal counsel, the opposing claim appears to be
unfounded as well as weak in terms of evidence. As a result, and also on the basis that the proceeding is just getting started,
no provisions have been made at this time.
On October 2, 2009, the Fin.Part bankruptcy trustee sued UniCredit Corporate Banking (as the successor of the former
Credito Italiano) before the Court of Milan, requesting that (i) the “payment” of €46 million made by Fin,Part in September
2001 to the former Credito Italiano be declared void and, consequently, (ii) the defendant be ordered to return that amount,
which involves recovery of a loan granted by the bank as part of the overall financial operation already challenged in the
previous lawsuit.
The plaintiff’s claim appears to be included in the action already brought by the Fin.Part trustee in the lawsuit already in
progress.
Seanox Oil P.T.
In 2004, Seanox Oil P.T., with its registered office in Jakarta, made a decision to liquidate (through Branch 26 in Milan of the
former Banca di Roma) two certificates of deposit that were apparently issued by UBS for a total amount of USD 500 million
(USD 300 million and USD 200 million).
The aforementioned company instituted proceedings against the former Banca di Roma, claiming that it had suffered unjust
loss deriving from the alleged illicit delivery to UBS Bank, Zurich of one of the certificates, i.e. the one with a face value of
USD 200 million, which, having been proved to be false, was withdrawn by the aforementioned UBS Zurich.
Accordingly, the plaintiff company requested compensation for damages quantified as the face value of the certificate of
deposit withdrawn by UBS, or U.S.$ 200 million, i.e. around Euro158 million.
It should be noted that the second certificate with a face value of U.S.$ 300 million, not being dealt with by this action, was
seized by the GDF [Italian financial police] at the vault of the aforementioned Milan branch of the Banca di Roma on
November 18, 2004 within the context of a criminal proceeding pending before the Court of Trento involving accusations in
connection with the aforementioned certificates of deposit. This proceeding ended with the defendants’ acquittal.
The Bank duly appeared in court to dispute the reconstruction of events and to ask for the petitions filed to be wholly rejected
as unfounded in law and in fact. Following a number of recent restructuring transactions in the UniCredit Group, the question
in law that was the object of the lawsuit was transferred to UniCredit Banca S.p.A.
To cover these risks, provisions have been made in an amount deemed to be in line with what the actual risk of litigation
would now appear to be.