ILBE Shareholders Approve Legal Action Against Andrea Iervolino & Renaming Of Company To Lady Bacardi Media
deadline.comThe messy business divorce between Monika Bacardi and Andrea Iervolino has moved into fresh territory following a shareholders meeting of their former joint company ILBE (Iervolino and Lady Bacardi Entertainment).
The meeting on Monday marked the first official gathering of ILBE’s shareholders since Iervolino announced in late September that he was stepping back from his role as its co-founder and CEO to launch his own outfit The Andrea Iervolino Company (TAIC).
Key resolutions agreed at the meeting included initiating legal action against Iervolino and giving the mandate for preliminary and investigative activities to top Italian law firm Pedersoli Gattai.
The shareholders also resolved to change the company’s name to Lady Bacardi Media S.p.A. to be abbreviated as LBM S.p.A. Iervolino’s move to strike off on his own has sparked a bitter public dispute with Bacardi, with whom he produced films such as Ferrari, To The Bone, Modi, In The Fire and Lamborghini under the joint ILBE banner they co-founded in 2011.
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