Million-dollar foreclosure for the Cala del Forte marina in Ventimiglia.

A dispute between the contractor and the client for the construction of the Cala del Forte marina has led to a multi-million dollar seizure of the marina's concessionaire.

The Neapolitan company Cem SpA, contractor for the construction of the Ventimiglia marina (Imperia), has seized a total sum of €3,7 million from Cala del Forte, the concessionaire of the port areas. This follows the Rome court's ruling that an arbitration award was enforceable. Cala del Forte, a company controlled by the Principality of Monaco, has as its sole shareholder the Monaco Port Management Company (SMIP), and is ordered to pay a total sum of over €2,5 million, expected to rise, for having "unfairly" withheld a €2 million penalty following complaints about delays in the completion of the works.

"We've just served the seizure order," said Naples-based lawyer Gianluca Caporaso, who represents Cem, "to secure payment of the sums that were not paid voluntarily."

The seized amount is greater than the amount requested and consists of bank accounts and rent from businesses located within the tourist port.

According to Cala del Forte director Marco Cornacchia: "A dispute between the contractor and the client has ended, as often happens. These are times when someone thinks they want money and someone else doesn't. The matter is in the hands of our lawyers and the ordinary justice system. If there's money to be paid, we'll pay; otherwise, we won't. In the meantime, the port continues its peaceful and successful life."