CASTELFRANCO (TREVISO) – Media Production (formerly Velvet Media) at the center of a Finance investigation For bankruptcy. The Castelfranco-based marketing and communications agency has accumulated over 11 million liabilities in less than ten years of life. Now those accounts are being investigated by the Fiamme Gialle di Treviso, which in recent months has heard from numerous employees and collaborators of the company founded by Bassel Bakdounes, the 46-year-old Italian-Syrian entrepreneur. The agency’s millionaire hole would be in the sights of the financiers of the Treviso provincial command. Agency which, in recent years, had made headlines for having abolished working hours and instituted the innovative experiment of the “work towards goals“.
We’re talking about 8 million debt to the treasury (mostly all passed to the Revenue Agency and not paid), i credits claimed by banks and those towards employees. The rest of the sum, over 2 million, would have disappeared from the company’s coffers. The investigators’ suspicion is that they may have ended up in the pockets of the associates. The investigations focus in particular on a possible bankruptcy due to distraction, achieved by invoicing the contracts to a new company created ad hoc, the Velvet Group, while the production costs remained borne by Velvet Media, now close to bankruptcy.
According to the summary report (updated in May) the sum claimed by the creditors privileged amounts to six and a half million euros, to which must be added almost 3 million late claims and approximately one and a half million assessments for late claims. Over a million, however, is due to unsecured creditors, i.e. creditors who are not assisted by pre-emption and who compete with each other on equal terms. In total Media Production, to arrive at one liquidation ordered, it would have to shell out 11 million seven hundred thousand euros.
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