The High Court of England and Wales has issued its ruling on legal proceedings initiated by Italian financier Raffaele Mincione in 2020, in an attempt to block the Vatican’s investigation into financial dealings linked to the Secretariat of State.

In a detailed 50-page judgment, the court rejected Mincione’s request for declarations affirming his good faith in transactions with the Holy See. Judge Robin Knowles ruled that Mincione and his companies failed to meet the communication standards expected of good faith dealings with the Vatican’s Secretariat of State. The court also found that Mincione had made misleading representations about the value of the London property at 60 Sloane Avenue, a key asset in the case.

The ruling aligns with decisions made by the Vatican Tribunal, which in July 2021 indicted Mincione for financial misconduct relating to the Secretariat of State’s investments. The court stated that the Vatican had legitimate grounds to feel misled by Mincione, emphasizing that his firm prioritized its own interests over the Holy See’s financial well-being.

While the court granted Mincione some declarations tied directly to contract provisions, it unequivocally denied his request for a ruling that would affirm his good faith. Additionally, the judgment criticized broker Gianluigi Torzi’s conduct, describing it as "improper, unscrupulous, and dishonest."

The Vatican’s Promoter of Justice, Alessandro Diddi, welcomed the ruling, stating that it reinforced the findings of the Vatican Tribunal, which sentenced Mincione to five years and six months in prison and ordered the confiscation of €200.5 million. That conviction is currently under appeal.

The High Court’s decision further strengthens the Vatican’s position in its legal battle over the controversial investment, highlighting the financial irregularities surrounding the case and affirming the credibility of the Vatican’s legal actions.