The Genoa court has seized the shares! » What effects can it have for the club patronized by Dan Șucu

The minority stake remaining in the hands of the American company, which is now part of the A-Cap group, was already facing financial problems and recently suffered a drop in its credit rating, following the capital increase that allowed Dan Sucu to become the majority shareholder, having 77% of the package.

The preventive seizure amounts to 28 million euros

The order was issued by the Court of Genoa, through judge Francesca Lippi, following a request for seizure made by Genoa “within a judgment intended to establish its right to obtain the transfer to 777 Holdings of a credit claimed by Genoa CFC against Fingiochi Srl and to order 777 Holdings to pay the corresponding price”.

Preventive seizure of assets – movable and immovable – of claims, money, securities, shares and shares belonging to Genoa CFC Holdings Srl amounts to 28 million euros.

Dan Țucu, a very frugal patron at Genoa in the 12 months since he took over the Serie A club / Photo: buoncalcioatutti.it

The Genoese daily Il Secolo XIX writes that “the decision in favor of the club is related to two assumptions, considered valid by the court. The first is the existence of the credit claimed by Genoa against 777 Holdings, which is requested in the merits process.

And the other, the existence of a real danger for Genoa to lose its credit guarantee because of the inadequacy of 777 Holdings' assets to guarantee its payment and the failure of 777 Holdings to provide adequate collateral.

Dr. Ermanno Martinetto has been appointed custodian of the shares and, in accordance with the law, will have “the right to intervene and vote at shareholders' meetings”.

“777 Holdings could decide, in the face of a transaction with the majority shareholder, to exit Genoa's capital permanently”

Through this decision, the minority shares of the club patronized by Șucu will be managed by a custodian until the final court decision is issued, the term being difficult to predict.

Dan Șucu, next to Christian Pușcașiu, with a cap, at Genoa – Verona

For 777 Holdings, which is part of the A-Cap galaxy, the American credit insurance company of the 777 Partners group, there are now two options: to appeal to the court or pay the debt!

With this decision, 777 Holdings, which can no longer operate as a shareholder, could decide, in the face of a transaction with the majority shareholder, to exit definitively from the capital of the Genoa club.

After the recapitalization in December 2024, which effectively saved “Grifon”, Dan Șucu invested 40 million euros, becoming the majority shareholder. Since then, the Romanian entrepreneur owns 77% of the shares of the oldest Italian club.