Keybridge Capital Limited (ASX: KBC), an investment and financial services group with a diversified portfolio, has announced that the Milanese Court has granted asset freezing orders (sequestro conservativo) over the Italian property of Nicholas Bolton and Crotto del Nino S.r.l. (Crotto). The orders protect assets up to AUD$4.7 million, equivalent to EUR 2.8 million.
Crotto, an Italian entity wholly owned by Mr. Bolton, holds the title to a waterfront residence on Lake Como. According to Keybridge, the property was acquired using funds transferred from Keybridge’s subsidiary’s accounts in July 2024. The Italian orders will remain in place pending the outcome of ongoing recovery proceedings before the NSW Supreme Court, initiated by WAM Active Limited, Keybridge’s largest shareholder, on behalf of Keybridge. WAM Active is seeking to recover the funds transferred in July 2024 for the benefit of all Keybridge shareholders.
Similar orders were issued by the NSW Supreme Court in September 2024, freezing Mr. Bolton’s assets in Australia. The recent ruling in Italy reinforces Keybridge’s efforts to protect its assets. Mr. Bolton and Crotto have been ordered to pay the costs incurred by Keybridge and WAM Active in the Italian proceedings. The announcement has been authorized for release by the Keybridge Board of Directors.
