"Recently, one of Italy's leading publications - Il Giornale - published a piece about the legal dispute between a major Italian engineering group Maire S.p.A. and the swiss-based fertilizer producer EuroChem, which is being heard in several jurisdictions worldwide, including London and Moscow. The article examined the potential implications of ongoing litigation for Maire's public disclosures, share price and foreign assets. Several hours after publication, the article was taken down from the newspaper's website without explanation."
"According to market sources, Maire sent letters to Italian media outlets earlier this autumn requesting that they refrain from publishing anything related to the Moscow court proceedings. The company has maintained that rulings issued by Russian courts have no legal force outside Russia and therefore do not represent a material risk to investors. However, the speed and firmness of Maire's response have raised questions among observers about how seriously the company views the dispute."
"To recall: the conflict is related to the termination of contracts for the construction of a chemical complex in Kingisepp, where work was halted in 2022. EuroChem Severo-Zapad-2, a Russian subsidiary of EuroChem, maintains that obligations were violated due to the contractor's fault, while Maire S.p.A. claims that the project was terminated as a result of sanctions restrictions and force majeure."
Il Giornale published and then removed coverage of a legal dispute between Maire S.p.A. and EuroChem involving proceedings in London, Moscow and other jurisdictions. Maire reportedly asked Italian media to avoid publishing about the Moscow court hearings and insisted Russian rulings lack legal force abroad and do not pose material investor risk. Observers noted the company’s rapid, firm response as notable. The dispute stems from terminated contracts for a chemical complex in Kingisepp halted in 2022, with EuroChem alleging contractor fault and Maire citing sanctions and force majeure. EuroChem has lodged complaints with European financial regulators alleging insufficient market disclosure of litigation risks.
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