Margherita Agnelli's defence: 'Disregarded and betrayed' the lawyer's last wishes

The December 1998 will that was found, never revoked, nor amended (not even under the subsequent provisions of 20 April 1999) has, therefore, been totally ignored and kept hidden all these years.

This document shows how the provision by which Gianni Agnelli had destined to his nephew John Elkann his own 25% share in Dicembre did not represent his last and definitive will. On the contrary, it emerges from the handwritten will of the lawyer, now produced before the Court, that his nephew should have been entitled only to a minority shareholding, while the shareholding attributable to him should have belonged to his son Edoardo - who died tragically in 2000 - and, failing that, to his legitimate heirs, namely Margherita Agnelli and Marella Caracciolo.

This circumstance constitutes a further element capable of bringing about a radical revision of the December ownership structure and, on a moral level, represents proof that the lawyer's last wishes have been disregarded and betrayed.

Background

On 24 January 2003, after a long illness, Gianni Agnelli passed away.

On 24 February 2003 - at the notary's office of Notary Ettore Morone - the lawyer's testamentary dispositions were published, divided into three separate documents, which appear to have been previously 'deposited in trust' (a circumstance lacking, however, any indication as to the date of the deposit and the material author of this operation).

It is acknowledged that:

- the first provision is contained on a sheet of stamp paper written for ten lines on the first side;

- the second on a sheet of writing paper written for five lines on the first side;

- the third on two sheets of paper written for fifteen lines and ten lines respectively, including dates and signatures.

In the first one, dated 12 December 1983, Gianni Agnelli withdrew 'the usufruct of the Gapi spa shares to my wife Marella Caracciolo', observing that such withdrawal was 'to be understood as charged to the entire estate and is to be taken before any other distribution'.

In the second, dated 14 January 1985, he ordered the appointment of 'the executor of the will, the lawyer Franzo Grande Stevens'.

In the third, dated 20 April 1999, the lawyer assigned his real estate in favour of his wife Marella Caracciolo and their children Margherita and Edoardo Agnelli, stating in particular:

- the hillside residence in Turin, in Strada San Vito Revigliasco, 'with relative appurtenances and with all the inherent accessory furnishings, furniture', was assigned 'for life usufruct to my wife Marella and for bare ownership to my two children Margherita and Edoardo in equal parts';

- Similarly, "all my real estate in Villar Perosa, with relative appurtenances and with all the inherent furnishings, movable accessories and objects" was left in usufruct to Marella and bare ownership to the two sons, in equal parts;

- the property in Rome, Via XXIV Maggio no. 14, was attributed "with the relative appurtenances and with all the inherent accessory furnishings, furniture for life usufruct to my wife Marella";

- finally, 'the properties in Turin, strada San Vito Revigliasco 45 and 63' were intended for his son Edoardo Giovanni Agnelli.

In relation to Società Semplice Dicembre, on 10 April 1996, Gianni Agnelli, through a reserved capital increase, had donated to Marella Caracciolo, Margherita Agnelli and John Elkann in bare ownership each a share of approximately 25% of the capital of S.S. Dicembre, reserving for himself the usufruct, for an overall total of 75%, while retaining full ownership of the remaining 25% of the capital.

On 17 July 1996, before a delicate heart operation in Monte Carlo (Monaco), Gianni Agnelli wrote in his own hand what has gone down in history as the 'letter of Monaco'. In that letter, defined as an expression of his 'last will and testament' regarding the remaining shares in Dicembre, he stipulated that they should be destined in property to his nephew John Elkann, specifying, however, that 'the rights to the value of the share which will accrue to my legitimate heirs should be liquidated to them with assets other than the shares in S.S. Dicembre'.

When the will was opened on 24 February 2003, the information available to the heirs Margherita Agnelli and Marella Caracciolo was limited to the three provisions mentioned above and the letter from Monaco. Convinced that she was faithfully fulfilling her husband's wishes, on the same date Marella Caracciolo, by deed drawn up by the Notary Ettore Morone, transferred by way of donation to John Elkann a 25.37% share in Dicembre, enabling him to acquire the majority of the capital".