• Milanese Court grants asset freezing orders over Italian property of Nicholas Bolton and Crotto del Nino S.r.l. up to AUD$4.7 million
• Orders are in place pending outcome of recovery proceedings before NSW Supreme Court
• WAM Active seeking to recover funds transferred from Keybridge's subsidiary in July 2024

Keybridge Capital Limited (ASX: KBC) has announced that the Milanese Court has, on appeal, granted asset freezing orders (sequestro conservativo) over the Italian property of Nicholas Bolton and Crotto del Nino S.r.l. (Crotto) up to the amount of AUD$4.7 million, equal to EUR 2.8 million. Crotto is an Italian entity wholly owned by Mr Bolton, which holds title to the waterfront residence on Lake Como that was acquired using funds transferred from Keybridge's subsidiary's accounts in July 2024. The Italian orders are in place pending the outcome of the current recovery proceedings before the NSW Supreme Court, which were commenced by Keybridge's largest shareholder, WAM Active Limited (WAM Active) on behalf of Keybridge. WAM Active is seeking on behalf of Keybridge to recover the funds transferred in July 2024, for the benefit of all Keybridge shareholders. In September 2024, the NSW Supreme Court had made similar orders freezing Mr Bolton's assets in Australia. Mr Bolton and Crotto were ordered to pay the costs of Keybridge and WAM Active in the Italian proceedings.