A High Court ownership dispute between Marc Bourgade, chairman of Italian airline Aeroitalia, and JDK Holdings Corporation will see an injunction application filed in Italy by JDK for interim protection against Mr Bourgade, CourtNewsUK has learned.
In March 2024, JDK Holdings Corporation filed a claim against Bourgade and Asluma Aero
Holdings Limited.
The claim seeks to establish JDK’s rights as a launch investor to 95 per cent and thereby control of Aeroitalia, or alternatively, recover 95 per cent of what JDK claims Aeroitalia would have been worth had an agreed sale of the airline to JDK not been subverted by Bourgade.
According to a source with detailed knowledge of the Italian injunction application, JDK will
seek interim measures including a request for an immediate seizure order related to Mr
Bourgade’s shares of the airline.
Aspects of the injunction shared with CourtNewsUK state that German Efromovich, previous
Chairman of the Board of Avianca and board member of International Air Transport
Association), acted as a representative of JDK.
As such, Mr Efromovich entered into an agreement with Mr Bourgade to establish a joint venture which included an option agreement involving the ownership of shares in Aeroitalia.
According to the individual close to the injunction, email exchanges and conversations between Mr. Efromovich, Mr. Bourgade, and Aeroitalia’s current CEO, Gaetano Intrieri, detailing the original financial structure leading to the formation of the airline will be made public.
Mr. Intrieri has stated his intention to take Aeroitalia public in 2025 despite the ongoing dispute in the UK High Court.
He has stated: ‘Frankly speaking this court case in London is tremendously far from us and no
one in Aeroitalia management is thinking to [sic] this story. Any court decision will not affect
Aeroitalia at all,” adding, “it will take years to reach a decision”.
Mr Intreiri’s intention to take the airline public is a key factor in JDK’s decision to now request an immediate injunction of Mr. Bourgade’s shares.
‘Given the multiple public announcements of a planned IPO in 2025, JDK is concerned that the
material conditions underpinning its claim in the UK will drastically change should the airline be allowed to move forward with its plan,’ a source said.
‘The dispute is expected to extend into 2026. With Aeroitalia working to IPO in 2025, JDK’s claim over ownership of the shares will be fundamentally threatened if the company goes public.’
Asked about the jurisdiction of the Italian courts with respect to the UK claim, he said that
‘Italian courts have full authority to issue interim measures when proceedings are to be
enforced in Italy.
‘It is wholly within the court’s authority to step in and it is their responsibility to do so.’
