Margherita Agnelli de Pahlen, daughter of the late Fiat chairman Gianni Agnelli, yesterday lost the court case she brought against her mother and three of her father's advisors in which she claimed she had been denied her full inheritance.
Fourth generation Agnelli de Pahlen claimed her father's estate had up to €1 billion in undeclared assets that had not taken into account and had called for a fuller accounting of the estate.
A judge in Italy dismissed the case and ordered Agnelli de Pahlen to pay €32,000 in court costs. The full reasons for his decision are expected to be released in the following days.
Marella Agnelli, Gianni's widow and Agnelli de Pahlen's mother, has always denied the claims and in a statement yesterday said: "The court's verdict brings to an end an episode that has been sad and painful for us all. Now I hope with all my heart that peace and affection will return and that we can look calmly to the future for the good of all my family."
The public nature of the allegations, which first surfaced in 2007, caused embarrassment for the Turin-based Agnellis, who attract a considerable amount of attention in Italy due to their status. The claims sparked an investigation into the Agnelli family's finances by the Italian tax authority in August 2009. (Click here to read our coverage of the story)
Agnelli de Pahlen's claims reportedly also caused a family rift and strained the relationship between her and her two sons John Elkann (pictured), Fiat vice-chairman and Lapo Elkann.
Fiat has been under the control of the Agnelli family since it was founded in 1899 and the family still owns about 30% of the €50 billion car manufacturer through its EXOR holding company.
Not already a subscriber? Click here to subscribe to the magazine
Want to get the latest family office news direct to your desktop?