Italy wants Michael Harte’s island back.
The CBA chief information officer bought Budelli last month for $4.4 million. Fairfax reports he secured a $3.56 million loan from the bank.
Now, according to The Telegraph, the Italian Parliament has passed a special dispensation to allow the country’s government to re-purchase it, with a group of left-wing MPs worried it could be spoiled.
Though Harte has always said he wanted to preserve the island, located off the coast of Sardinia. And in any case, it came with strict conditions that prevented new structures being built.
There is more here.
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