IT Holding Finance placed in extraordinary administration

By Caroline Salls

Pittsburgh, April 3 - IT Holding Finance SA has been placed in extraordinary administration proceedings upon the approval of Italian minister of economic development Claudio Scajola, according to a news release.

Stanislao Chimenti, Andrea Ciccoli and Roberto Spada have been appointed as the commissioners of IT Finance, which is IT Holding SpA's Luxembourg-based subsidiary and issuer of the company's senior notes due 2012.

IT Holding is a Milan, Italy-based holding company for fashion brands, including Versace, Dolce & Gabbana and Roberto Cavalli.

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