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De Tomaso’s story involves two different revival efforts, not one collapse. The earlier company, De Tomaso Automobili S.p.A., presented a new car in 2011 and entered bankruptcy in 2012; a 2026 newspaper report says its former leaders were convicted in that bankruptcy case. A later, separate revival centered on the P72 and became the subject of a U.S. lawsuit alleging misconduct around a proposed SPAC deal. The allegations in that civil case did not cause the earlier Italian bankruptcy, and the court’s 2025 ruling did not find every accusation true.
Why the headline combines two different De Tomaso stories
“De Tomaso” can mean the historic marque, but the relevant proceedings concern two distinct corporate episodes. The Rossignolo-era De Tomaso Automobili S.p.A. was the company that presented a vehicle in 2011 and later went bankrupt in Italy. Years afterward, De Tomaso Automobili Holdings N.A. was associated with a revival built around the P72. Its dispute with former executive Ryan Berris unfolded in U.S. civil court.
| Episode | Company and leadership | Car | Proceeding | What is established in the cited material |
|---|---|---|---|---|
| Earlier revival | De Tomaso Automobili S.p.A.; associated with Gian Mario Rossignolo and his son Gianluca | A new vehicle presented in 2011; the European Commission document does not identify it in the cited passage | Italian bankruptcy case | The 2011 presentation is referenced by the European Commission; La Sicilia reported the company’s 2012 bankruptcy and 2026 convictions in the case. European Commission document; La Sicilia report |
| Later revival | De Tomaso Automobili Holdings N.A.; associated with Norman Choi | P72 | U.S. civil litigation brought by Ryan Berris | The complaint alleged misconduct tied to a proposed SPAC transaction and customer deposits; a 2025 summary-judgment ruling resolved some claims and left others unresolved. Complaint and docket; 2025 court opinion |
What happened to the earlier De Tomaso company?
The European Commission’s 2013 material refers to De Tomaso Automobili S.p.A. presenting a new vehicle in 2011. La Sicilia’s 2026 report says the company went bankrupt in 2012. Those dates describe the Rossignolo-era company, not the later P72 project.
La Sicilia reported that Gian Mario Rossignolo and Gianluca Rossignolo were convicted in the bankruptcy case, including in relation to bankruptcy and offenses involving public funds. The newspaper reported prison terms of five years and six months for Gian Mario and four years and ten months for Gianluca, as well as provisional compensation of €5 million to the bankruptcy estate. These figures and the convictions are attributed to the newspaper; the cited material does not establish the judgment’s appeal or finality status. La Sicilia’s report
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What did the lawsuit over the P72 allege?
In 2023, former executive Ryan Berris sued Sung-Fung “Norman” Choi, De Tomaso Automobili Holdings N.A. LLC, Hin Weng “Samuel” Lui and Genesis Unicorn Capital Corp. in the U.S. District Court for the Southern District of New York. Berris’s complaint alleged financial misconduct, false statements and efforts to mislead customers who had paid deposits, in connection with a proposed SPAC transaction. These were allegations made by a litigant, not established facts merely because they appeared in a complaint or its accompanying publicity. Berris v. Choi docket
The dispute also involved opposing explanations for Berris’s departure. The court’s 2025 opinion summarized Choi’s position that Berris resigned after misusing company resources, while Berris said he was forced out after raising concerns about fraud. Those competing accounts are the parties’ positions as described by the court, not findings that either account is true. Berris’s complaint materials quoted him saying, “I dedicated my life to reviving De Tomaso, building one of the world’s timeless supercars and providing opportunities for others.” That statement reflects his own perspective.
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What did the 2025 court ruling decide?
On September 4, 2025, the SDNY granted in part and denied in part a summary-judgment motion by Choi and De Tomaso, and granted the motion by Lui and Genesis. A partial summary-judgment ruling is a procedural decision on claims or issues that can be resolved without trial; it is not a blanket endorsement of one side’s account. The ruling means some parts of Berris’s case against Choi and De Tomaso proceeded past that motion, while the court granted judgment to Lui and Genesis on the claims addressed by their motion. The cited opinion does not establish the final outcome of all remaining proceedings. Read the September 4, 2025 opinion
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Did fraud allegations cause De Tomaso’s bankruptcy?
The available chronology does not support that conclusion. The bankruptcy and the 2026-reported convictions concern De Tomaso Automobili S.p.A. and the earlier Rossignolo-era revival. The fraud allegations in Berris’s lawsuit concern a later company and the P72-era revival. They arose in a separate U.S. civil case years after the earlier company’s bankruptcy. Treating the later lawsuit as the cause of the 2012 failure would merge distinct entities, leaders, jurisdictions and proceedings.
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What remains unresolved in the public record cited here?
- La Sicilia reported the Rossignolos’ convictions and sentences in 2026, but the cited report does not establish whether the judgment is final or has been appealed.
- The 2025 SDNY opinion gives a partial disposition of the Berris case; it does not establish the final outcome of all remaining claims or proceedings.
- The allegations in Berris’s complaint should not be presented as proven misconduct unless supported by a subsequent finding.
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