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The Provincial People's Court of Havana declared the judicial liquidation of the International Economic Association Contract of Constructora PILAR II and set an amount of 2,676,192 Cuban pesos to be paid to the Italian company FLLI PIERANTOZZI S.P.A., according to a ruling published in the Extraordinary Official Gazette last Monday.
The Commercial, Administrative, Labor and Social Security Chamber of the Havana court accepted the lawsuit filed by the Caribbean Construction Company against the Italian firm based in San Benedetto del Tronto, in the Italian region of Marche.
The Italian company did not respond to the lawsuit and was declared in default, which led to a unilateral ruling by the Cuban court in favor of the state party.
The contract between both parties dates back to September 25, 2008, when FLLI PIERANTOZZI S.P.A. entered into a partnership with the then Construction, Repair, and Maintenance Company COREPMA, providing transportation and construction equipment, machinery, furniture, and office supplies.
In 2009, the then Minister of Economy and Planning, Marino Murillo Jorge, dissolved COREPMA through Resolution 360 and transferred all its assets, rights, and obligations —including this contract— to the Caribbean Construction Company.
The value of the assets contributed by the Italian firm was appraised at 2,676,192 Cuban pesos by the agency INTERMAR S.A. in March 2013, a figure that was formally accepted by Massimiliano Pierantozzi, the legal representative of FLLI PIERANTOZZI, in February 2016.
At the current official exchange rate in Cuba of 24 pesos per dollar, the settlement amount is approximately 111,508 US dollars.
The judicial process was lengthy and tumultuous: the ordinary termination file began in 2019, and a first ruling issued on June 7, 2024, declared the termination of the contract and ordered the commencement of the liquidation process.
The liquidation ruling, dated October 30, 2025, was issued by judges Janet Loret de Mola Pino, Mercedes Carina Torres Hidalgo —the rapporteur— and Martha Irasema García Gavilán.
The ruling was based on the Law 118 of 2014 on Foreign Investment and Decree 325 of 2024, its regulations, which govern the fate of the resources contributed by the foreign party upon the conclusion of such a contract.
The construction company Caribe held reserved funds in Branch 250 of Banco Metropolitano S.A. "to make the payment to the defendant as settlement for the contribution made under the contract, thereby fulfilling the contract," as stated in the ruling.
The case reflects the growing difficulties faced by foreign investors in Cuba, amidst a severe economic crisis that has led several European companies to reduce or abandon their presence on the island, as documented by disagreements between the Cuban government and Italian entrepreneurs in recent years.
Italy is one of the main European investors in Cuba, active in sectors such as energy, tourism, and construction, including projects related to GAESA and Italian partners that have also led to conflicts.
Once the ruling is finalized, the court will order the cancellation of the contract's registration in the Commercial Registry for its definitive extinction, although the parties have 10 days from the notification to file a cassation appeal, as stipulated in the ruling itself.
The court also decided that no legal costs would be imposed, in a case where the Italian company never proved legal representation before the Cuban judiciary, which raises questions about the real guarantees for foreign investors on the island despite the regime's promises.
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