MILAN, Nov 9 (Reuters) - Milan's civil appeals court on Thursday upheld a ruling rejecting a 450 million euro ($481 million) damage claim brought by Luxembourg-based fund Alkem against Monte dei Paschi di Siena (BMPS.MI), the bank's former top management and its adviser Nomura , the court said in a statement.
The rulings are beneficial for MPS which is 64% owned by the state following a 2017 bailout, and must be re-privatised.
Alken had sought around 450 million euros in compensation and Virmont SA another 4.7 million, the court said, adding there were further smaller claims from some Italian investors.
The civil appeals court in Milan also cited the ruling of the criminal court of appeal in Milan that had acquitted all the defendants in the case centring around the two derivatives deals, a decision confirmed by Italy's top court last month.
($1 = 0.9356 euros)Reporting by Emilio Parodi, editing by Valentina ZaOur Standards: The Thomson Reuters Trust Principles.
Persons:
Siena, Nomura, Alken, Emilio Parodi, Valentina Za
Organizations:
MILAN, Monte dei, Deutsche Bank, Nomura, MPS, Virmont SA, Thomson
Locations:
Luxembourg, Milan