Shares of Brioschi, the real estate company of the Cabassi family which controls property firm L’Orologio, surged by 4.24% to €0.06. Also performing well was Bastogi (+1.29% to €0.63), which itself holds a 50.6% controlling stake in Brioschi. L’Orologio is the owner of a building in Milan occupied by the Leoncavallo Social Centre.
In its 2024 financial report, Brioschi detailed the long-running dispute over its property on Via Watteau in Milan, which is valued on its books at €2.644 million. The owner, L’Orologio (100% controlled by Brioschi), initiated legal proceedings against the squatters in March 2001. The Milan Court subsequently ordered the eviction of the association ‘Mamme del Leoncavallo’ in 2003, a ruling that was upheld on appeal and finally confirmed by Italy’s Supreme Court.
From 2005 to the present, the report states that court officers have attempted to execute the eviction order 131 times, all unsuccessfully due to the lack of support from public security forces, despite being regularly notified and requested. The next attempt is scheduled for May 15, 2025.
Consequently, the company sued the Presidency of the Council of Ministers and the Ministry of the Interior for failing to provide the necessary police intervention. It sought compensation for damages incurred. A court-ordered technical assessment initially estimated the damages at over €10 million. Following an appeal by the ministry, this was reduced to a settlement of €3,039,150, plus statutory interest from the date the judgment was published until payment. The Interior Ministry, upon notification of the enforceable title, has paid the settlement.