(Bloomberg) -- Cruise billionaire Manfredi Lefebvre d’Ovidio won an Italian supreme court ruling set to end a long-running dispute over the family fortune.
Rome-based Corte di Cassazione, Italy’s highest ranking court, ruled in favor of the Monaco-based tycoon in a case brought by his brother Francesco, according to a document published last week.
Francesco had claimed he was the rightful owner of about half of the family holding. That company owned Silversea Cruises, which under Manfredi’s watch became a leading brand in ultra-luxury cruises. Royal Caribbean Cruises Ltd. bought a majority stake in Silversea in 2018, valuing it at $2 billion.
The dispute started more than 20 years ago over the ownership of a shipping company founded by their father Antonio, who had put the siblings’ holdings into a family trust. Francesco eventually went to court against the rest of the family arguing that the delivery of the shares of the holding company didn’t go through as planned.
The top court found there were no issues with a previous ruling in favor of Manfredi. The decision is also set to block a lawsuit brought by Francesco against Royal Caribbean in attempt to get back the Silversea shares, Manfredi’s lawyer Giovanni Frau said. A lawyer for Francesco didn’t return calls and emails seeking comment.
Since the sale of Silversea, Manfredi reinvested in the travel sector. After taking over travel group Abercrombie & Kent, he bought two Crystal Cruises ships.
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