As of June 30, 2026, Inter will have to settle for 341 million euros. This is because the company, when it was in the hands of Steven Zhang, adhered to the art. 1, paragraph 266, of Law no. 178 of 30 December 2020, postponing the operating loss to be covered to 30 June 2026 for an amount of 214 million, i.e. the loss of 30 June 2021. Then the Milleproroghe Decree 228/2021, in force from 31 December 2021, has allowed the postponement of June 2022 losses of 127 million.
We can read it in the folds of Inter’s balance sheet, filed today. “The Company’s Shareholders’ Meeting had approved the financial statements closed on 30 June 2021 with a loss of Euro 214 million, resolving to postpone the settlement of the loss by the fifth financial year following the one in progress as of 31 December 2020 (i.e. the Company, to the financial year ending on 30 June 2026), as provided for by art. 1, paragraph 266, of Law no. 178 of 30 December 2020; and it is also recalled that the Shareholders’ Meeting of the Company had approved the financial statements closed on 30 June 2022 with a loss of Euro 127 million, resolving a further postponement of the settlement of the loss within the fifth financial year following the one in progress on 31 December 2021 (i.e., for the Company, to the financial year closing on 30 June 2027), as provided for by the Milleproroghe Decree 228/2021 in force from 31 December 2021, converted with amendments into Law 15 of 25 February 2022 in art. 3, paragraph 1-ter (extension of deadlines in economic and financial matters)” .
In short, Oaktree – or whoever for it – will have to cover losses of 341 million between 2026 and 2027. A debt that Zhang did not honor, net of the pledge he had with Oaktree.