MILAN — In a second hearing here, Milan prosecutors Luigi Orsi and Mauro Clerici on Wednesday reiterated Burani Designer Holding N.V. should be declared bankrupt.
According to a well-placed legal source, prosecutors also stated BDH owes 20 million euros, or $27.8 million at current exchange, to three private equity funds, which assisted the group in its tender offer of 15 percent of Mariella Burani Fashion Group at the end of 2008. ABS Wealth Management, IGI SGR and JH Partners, which controls innerwear brand La Perla, are understood to be the three creditors.
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